Vertex Pharma Turns To Profit In Q4; Issues FY14 Revenue Outlook - Quick Facts

(RTTNews) - Vertex Pharmaceuticals Inc. (VRTX) Wednesday reported fourth-quarter net income of $44.3 million or $0.19 per share, compared to net loss of $76.1 million or $0.35 per share last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.55 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted net loss for the quarter was $128.4 million or $0.56 per share, compared to net income of $9.0 million or $0.04 per share a year ago.

Total revenues for the quarter dropped to $351.16 million from $333.99 million last year, while 15 analysts estimated revenues of $179.80 million for the quarter.

Looking forward to the full year 2014, the company expects revenues of $570 million to $600 million. Analysts currently expect the company to post revenue of $631.13 million for the full year 2014.