Axonics: Q3 Earnings Snapshot

Associated Press Finance
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IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Axonics Modulation Technologies Inc. (AXNX) on Monday reported third-quarter net income of $3.9 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Irvine, California-based company said it had net income of 8 cents.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The medical technology company posted revenue of $93.1 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $90.9 million.

Axonics expects full-year revenue of $362 million.

Axonics shares have dropped 21% since the beginning of the year. In the final minutes of trading on Monday, shares hit $49.50, a drop of 31% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXNX at https://www.zacks.com/ap/AXNX

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