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Gilead Sciences' Loss Narrower Than Expected

Gilead Sciences

(GILD) - Get Gilead Sciences Inc. Report

reported a fourth-quarter loss of $22.9 million, or 24 cents a share, excluding a $154.5 million gain from the sale of its cancer business, compared with a loss of $18.4 million, or 39 cents a share, a year ago. Wall Street had been expecting a loss of 29 cents a share, according to Thomson Financial/First Call.

Revenue for the quarter rose 42% to $74.3 million from $52.5 million in the year ago quarter.

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The biotech company also reiterated its goal of becoming profitable on a full year basis in 2002. According to First Call, analysts are expecting a 5-cent loss for the full year.

Shares of Gilead closed at $65.42 Thursday before the announcement.