Maravai LifeSciences Swings To Q4 Profit, Shares Up 20%

(RTTNews) - Shares of Maravai LifeSciences Holdings Inc. (MRVI), Tuesday reported fourth-quarter net income of $25.2 million or $0.13 per share, compared to net loss of $5.4 million or $0.03 per share last year.

Revenue for the fourth quarter surged 173.5% to $98.4 million from $36.0 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.10 per share on revenues of $89.02 million for the quarter.

Looking forward to full year 2021, the company expects adjusted earnings of $0.80 to $0.90 per share on revenues of $580.0 million to $630.0 million. Analysts currently estimate earnings of $0.61 per share on revenues of $429.55 million for the year.

MRVI closed Tuesday's trading at $35.06, down $1.41 or 3.87%, on the Nasdaq. The stock, however, gained $8.19 or 23.36% in the after-hours trade.