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Medifast: 1Q Earnings Snapshot

BALTIMORE (AP) _ Medifast Inc. (MED) on Wednesday reported first-quarter net income of $20.8 million.

The Baltimore-based company said it had profit of $1.70 per share.

The weight-loss company posted revenue of $165.9 million in the period.

For the current quarter ending in July, Medifast said it expects revenue in the range of $180 million to $185 million.

The company expects full-year earnings to be $6.70 to $6.90 per share, with revenue ranging from $720 million to $740 million.

Medifast shares have climbed 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $151.25, a climb of 56% 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 MED at https://www.zacks.com/ap/MED