BioMarin Pharma Q3 Net Loss Deepens, Revenue Rises

Shares of BioMarin Pharmaceutical shares are down in post-market trading following the release of the company's Q3 results. For the quarter, revenue was just under $137 million, or nearly 7% higher than the $128 million it posted in the same period the previous year. Bottom line, however, plunged more deeply into the red, as the firm booked a net loss of $53.0 million ($0.38 per diluted share), against Q3 2012's shortfall of $5.4 million ($0.04).

On average, analysts had been expecting revenue of $140 million and a per-share loss of $0.30.

The company provided forward guidance for fiscal 2013. Total revenue for the year is anticipated to come in at $530 million to $555 million, with a net loss of $160 million to $185 million.http://investors.bmrn.com/releasedetail.cfm?ReleaseID=800324

After the results were announced today, the company's stock dropped by 2.9%, or $1.99, to $66.97 in after-hours trading.

The article BioMarin Pharma Q3 Net Loss Deepens, Revenue Rises originally appeared on Fool.com.

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