Insys Therapeutics Turns To Profit In Q4

(RTTNews) - Insys Therapeutics, Inc. (INSY) said that net income for the fourth quarter of 2013 was $24.1 million, or $1.01 per share, compared to a net loss of $7.1 million, or $0.76 per share in the fourth quarter of 2012.

Non-GAAP adjusted net income for the fourth quarter of 2013 was $17.1 million, or $0.71 per diluted share, compared to non-GAAP adjusted net loss of $5.5 million, or $0.59 per diluted share, in the prior year quarter.

Total net revenue for the fourth quarter of 2013 was $40.2 million, an increase of $35.0 million as compared to $5.2 million for the fourth quarter of 2012.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share and revenues of $34.73 million for the quarter. Analysts' estimates typically exclude special items.