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Cardiovascular Systems reports 3Q loss

ST. PAUL, Minn. (AP) _ Cardiovascular Systems Inc. (CSII) on Wednesday reported a loss of $1.7 million in its fiscal third quarter.

The St. Paul, Minnesota-based company said it had a loss of 5 cents per share. Earnings, adjusted for non-recurring costs, were 3 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 4 cents per share.

The medical device developer posted revenue of $52.1 million in the period.

Cardiovascular Systems expects a full-year loss of 6 cents to 4 cents per share, with revenue in the range of $51.5 million to $52.5 million.

Cardiovascular Systems shares have increased 25 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.33, more than doubling 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


Keywords: Cardiovascular Systems, Earnings Report