UPDATE 1-Depomed posts narrower-than-expected Q4 loss
* Q4 loss/shr $0.07 vs est loss/shr $0.13
* Q4 rev jumps 52 pct
* Shares up as much as 5 pct in after-mkt trade
March 4 (Reuters) - Depomed Inc (DEPO.O) posted a narrower-than-expected quarterly loss, helped by a nearly four-fold increase in license revenue, sending its shares up as much as 5 percent in after-market trade.
For the fourth quarter, the specialty pharmaceutical company reported a net loss of $3.6 million, or 7 cents a share, compared with a loss of $11.2 million, or 22 cents a share, a year earlier.
Analysts on average had expected a loss of 13 cents a share, excluding items, on revenue of $13.3 million, according to Thomson Reuters I/B/E/S.
Total revenue rose 52 percent to $13.2 million.
License revenue rose to $3.2 million in the quarter from 834,000 in the year-ago period.
Shares of the company rose 5 percent to $3 in after-market trade. They closed at $2.87 Thursday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Maju Samuel)
- Police hunt for motive as search for Malaysian jet spans hemispheres |
- Crimeans vote on union with Russia as Moscow pours in troops |
- Malaysian PM says lost airliner was diverted deliberately |
- Democrats seek ways to limit Obamacare fallout after Florida defeat
- Indian Ocean poses daunting challenge in search for missing Malaysia plane