WALTHAM, Mass. (AP) _ ImmunoGen Inc. (IMGN) on Friday reported fourth-quarter net income of $4.8 million, after reporting a loss in the same period a year earlier.

The Waltham, Massachusetts-based company said it had net income of 3 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The drug developer posted revenue of $44.9 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $29.2 million.

For the year, the company reported that its loss narrowed to $104.1 million, or 70 cents per share. Revenue was reported as $82.3 million.

ImmunoGen expects full-year revenue in the range of $60 million to $65 million.

ImmunoGen shares have increased 5% since the beginning of the year. The stock has dropped nearly 2% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMGN at https://www.zacks.com/ap/IMGN

Automated Insights, source Associated Press News