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Cardiovascular Systems beats 4Q profit forecasts

ST. PAUL, Minn. (AP) _ Cardiovascular Systems Inc. (CSII) on Wednesday reported fiscal fourth-quarter net income of $772,000, after reporting a loss in the same period a year earlier.

The St. Paul, Minnesota-based company said it had net income of 2 cents per share.

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

The medical device developer posted revenue of $52.9 million in the period.

For the year, the company reported that its loss narrowed to $1.8 million, or 6 cents per share. Revenue was reported as $204.9 million.

For the current quarter ending in October, Cardiovascular Systems said it expects revenue in the range of $52.6 million to $53.6 million.

Cardiovascular Systems shares have increased 27 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.78, an increase of 59 percent 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 CSII at https://www.zacks.com/ap/CSII

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Keywords: Cardiovascular Systems, Earnings Report