Melco Crown beats 4Q profit forecasts

CENTRAL, Hong Kong (AP) _ Melco Crown Entertainment Ltd. (MPEL) on Thursday reported fourth-quarter net income of $43.3 million, after reporting a loss in the same period a year earlier.

The Central, Hong Kong-based company said it had net income of 9 cents per share. Earnings, adjusted for non-recurring costs, came to 13 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The casino company posted revenue of $1.19 billion in the period.

For the year, the company reported profit of $175.9 million, or 35 cents per share. Revenue was reported as $4.52 billion.

Melco Crown shares have climbed 11 percent since the beginning of the year. The stock has increased 17 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MPEL at https://www.zacks.com/ap/MPEL

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