Insulet: 3Q Earnings Snapshot
ACTON, Mass. (AP) _ Insulet Corp. (PODD) on Tuesday reported third-quarter earnings of $852,000.
The Acton, Massachusetts-based company said it had net income of 1 cent per share. Earnings, adjusted to extinguish debt, were 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The maker of insulin infusion systems posted revenue of $192.1 million in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $178.9 million.
For the current quarter ending in December, Insulet said it expects revenue in the range of $193 million to $201 million.
The company expects full-year revenue in the range of $722 million to $730 million.
Insulet shares have increased 82% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $144.41, a rise of 72% in the last 12 months.