Incyte tops Street 4Q forecasts

WILMINGTON, Del. (AP) _ Incyte Corp. (INCY) on Tuesday reported fourth-quarter net income of $8.9 million.

The Wilmington, Delaware-based company said it had net income of 5 cents per share. Earnings, adjusted for non-recurring costs, came to 15 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The specialty drugmaker posted revenue of $326.5 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $325.7 million.

For the year, the company reported profit of $104.2 million, or 54 cents per share. Revenue was reported as $1.11 billion.

Incyte shares have climbed 21 percent since the beginning of the year. The stock has risen 85 percent in the last 12 months.


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Keywords: Incyte, Earnings Report