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Cardiovascular Systems reports 1Q loss

ST. PAUL, Minn. (AP) _ Cardiovascular Systems Inc. (CSII) on Wednesday reported a loss of $2 million in its fiscal first quarter.

On a per-share basis, the St. Paul, Minnesota-based company said it had a loss of 6 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The medical device developer posted revenue of $49.7 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $50.9 million.

For the current quarter ending in January, Cardiovascular Systems said it expects revenue in the range of $52.5 million to $54 million.

The company expects full-year revenue in the range of $226 million to $233 million.

Cardiovascular Systems shares have increased roughly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.40, a rise of 13 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