BioTime beats 3Q profit forecasts

ALAMEDA, Calif. (AP) _ BioTime Inc. (BTX) on Thursday reported third-quarter net income of $14.3 million.

On a per-share basis, the Alameda, California-based company said it had profit of 12 cents. Losses, adjusted for non-recurring gains, were 5 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The biotechnology company posted revenue of $1.7 million in the period.

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