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Cardiovascular Systems: Fiscal 3Q Earnings Snapshot

ST. PAUL, Minn. (AP) _ Cardiovascular Systems Inc. (CSII) on Wednesday reported fiscal third-quarter net income of $365,000, after reporting a loss in the same period a year earlier.

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

The medical device developer posted revenue of $55.6 million in the period, which met Street forecasts.

For the current quarter ending in June, Cardiovascular Systems said it expects revenue in the range of $57.5 million to $59 million.

The company expects full-year revenue in the range of $215.4 million to $216.9 million.

Cardiovascular Systems shares have declined nearly 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.29, a fall of 23 percent in the last 12 months.


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