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Globus Medical: 4Q Earnings Snapshot

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AUDUBON, Pa. (AP) _ Globus Medical Inc. (GMED) on Wednesday reported fourth-quarter net income of $53 million.

The Audubon, Pennsylvania-based company said it had net income of 52 cents per share. Earnings, adjusted for one-time gains and costs, were 58 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The medical device company posted revenue of $233.4 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $234.2 million.

For the year, the company reported profit of $102.3 million, or $1.01 per share. Revenue was reported as $789 million.

Globus Medical expects full-year earnings to be $1.83 per share, with revenue expected to be $880 million.

Globus Medical shares have increased 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $66.60, a rise of 18% 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 GMED at https://www.zacks.com/ap/GMED