By Connor Hart
Shares of Harrow rose after the company's preliminary fourth-quarter results came in ahead of Wall Street's expectations.
The stock gained 19%, to $27.73, in after-hours trading Monday. Shares have more than doubled in the past 52 weeks, despite having lost nearly one-third of their value since the beginning of the year.
The eyecare pharmaceutical company said after the bell it expects to report a profit of $5 million to $7 million on revenue of $65 million to $67 million in the fourth quarter. Analysts surveyed by FactSet expected a fourth-quarter loss of $300,000 on sales of $58.4 million.
Chief Executive Mark Baum additionally provided an initial 2025 outlook that calls for revenue of over $280 million. Analysts modeled sales of $281.2 million for the year.
Harrow had planned to release its audited financial statements Monday after the bell, but the company's new auditor required additional time to prepare its financial presentation.
"We remain fully committed to comprehensive, accurate and transparent financial reporting," Baum said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 17, 2025 18:59 ET (22:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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