Genzyme Corp., the Cambridge based biotech company, reported a disappointing fourth quarter as the profit declined by 73%. The company blamed the temporary shutdown of a key manufacturing facility due to a viral contamination for the weak quarterly performance. The facility produces two of its top-selling products Cerezyme and Fabrazyme.

For the fourth quarter Genzyme reported the net income of $23 million, or 9 cents per share, decreasing by 73% while in the last three months of fiscal 2008 the company posted a net income of $87 million, or 31 cents per share.

Genzyme reported the adjusted earnings of 31 cents per share in the quarter compared with 42 cents per share in the same period of previous fiscal. The revenue of the company also decreased for the quarter and was reported to $1.08 billion comparing to the revenue of $1.17 billion posted in Q4 2008.

Though Genzyme posted a decrease in the profit, these results beat many Wall Street analysts' estimates as they were expecting earnings of 29 cents per share with revenue of $1.07 billion for the quarter.

The net income for the full year 2009 was posted $422 million, remaining almost same as the net income of FY 2008 when it was posted $421 million. The company reported the revenue of FY 2009 to $4.5 billion compared to $4.6 billion in FY 2008.

The company also released guidance for FY 2010. The company expects 2010 earnings of $1.90 to $2.27 a share with revenue of $5.23 billion to $5.53 billion.