NuVasive: 3Q Earnings Snapshot
SAN DIEGO (AP) _ NuVasive Inc. (NUVA) on Wednesday reported third-quarter profit of $11 million.
On a per-share basis, the San Diego-based company said it had net income of 21 cents. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The spinal device maker posted revenue of $290.8 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $283.6 million.
NuVasive expects full-year earnings in the range of $2.35 to $2.40 per share.
NuVasive shares have climbed 34% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $66.46, a rise of slightly more than 6% in the last 12 months.