Cardiovascular Systems: Fiscal 2Q Earnings Snapshot
ST. PAUL, Minn. (AP) _ Cardiovascular Systems Inc. (CSII) on Wednesday reported fiscal second-quarter net income of $492,000, after reporting a loss in the same period a year earlier.
The St. Paul, Minnesota-based company said it had profit of 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The medical device developer posted revenue of $60.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $59.7 million.
Cardiovascular Systems expects full-year revenue in the range of $243 million to $247 million.
Cardiovascular Systems shares have risen 5.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.06, a rise of 19 percent in the last 12 months.