Alere Q4 Adj. Profit Beats Estimates

(RTTNews) - Alere Inc. (ALR), a provider of diagnostics and services for cardiology, infectious disease, toxicology, and diabetes, Thursday reported a narrower loss for the fourth quarter, helped by a significant decline in research and development expenses and rise in net revenue. The company also reported adjusted profit that surpassed analysts' estimates.

Net loss attributable to shareholders narrowed to $9.05 million or $0.11 per share, from $68.03 million, or $0.84 per share, in the corresponding period a year ago.

Excluding certain items, profit attributable to shareholders increased to $59.26 million, or $0.68 per share, from $46.31 million, or $0.55 per share, last year.

On average, 8 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.64 for the quarter. Analysts' estimates typically exclude one-time items.

For the three months to December, revenue rose to $772.33 million from $755.76 million last year. Analysts had expected the company the report revenues of $774.78 million.