EARNINGS ROUNDUP / GENENTECH

Genentech Inc. said fourth-quarter profit rose 47% on a boost in sales of its key cancer drug, Avastin, but the results and the 2009 outlook were shy of Wall Street expectations.

During the quarter, profit reached $931 million, or 87 cents a share, up from $632 million, or 59 cents, a year earlier. Revenue rose 25% to $3.71 billion.

Excluding charges, the biotechnology company earned 95 cents a share, still shy of Wall Street expectations. Analysts polled by Thomson Reuters forecast profit of 96 cents a share on revenue of $3.66 billion.

Looking ahead, South San Francisco-based Genentech expects profit in 2009 to range from $3.55 to $3.90 a share, excluding charges. Analysts expect $3.92 a share.

Genentech reported results after the close of regular trading. In after-hours trading, its shares fell $1.38, or 1.6%, to $83.70.