Globus Medical: Q4 Earnings Snapshot

AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Tuesday reported fourth-quarter net income of $15 million.

On a per-share basis, the Audubon, Pennsylvania-based company said it had net income of 11 cents. Earnings, adjusted for one-time gains and costs, were 60 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The medical device company posted revenue of $616.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $612 million.

For the year, the company reported profit of $122.9 million, or $1.07 per share. Revenue was reported as $1.02 billion.

Globus Medical expects full-year earnings in the range of $2.68 to $2.70 per share, with revenue in the range of $2.45 billion to $2.48 billion.

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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