Talecris Biotherapeutics (Nasdaq: TLCR) hit Wall Street analysts’ expectations with a 38-cent per share profit for the fourth quarter.

The RTP-based firm, which is in the process of merging with Spain-based Grifols if it obtains regulatory approval, reported earnings for the fourth quarter and 2010 after the markets closed Wednesday.

Shareholders of both companies have already approved the $4.6 billion merger.

“The support for our proposed merger was evident by the overwhelming vote in favor of the merger by both Grifols’ and Talecris’ shareholders in the recent special meetings of shareholders,” said Lawrence Stern, Talecris’ chairman and chief executive officer, in a statement. “While we await approval from the U.S. Federal Trade Commission of the transaction, I am proud of the performance and record results that our company delivered in 2010 driven by strong growth in our U.S. and European businesses.

Talecris’ revenues increased 4.5 percent for the year to $1.6 billion and a 7.9 percent jump in net income to $166.1 million.

In the fourth quarter, Talecris revenues grew 5.3 percent to $410.8 million from a year earlier. The company’s net income increased to $17.1 million. Talecris did suffer one-time charges of $6.3 million related to the Grifols merger and a $26.6 million loss in a lawsuit filed by Plasma Centers of America that was settled at a jury trial.

For the full financial report, read here.

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