SOUTH JORDAN, Utah (AP) _ Merit Medical Systems Inc. (MMSI) on Thursday reported second-quarter profit of $6.9 million.
On a per-share basis, the South Jordan, Utah-based company said it had profit of 12 cents. Earnings, adjusted for amortization costs and non-recurring costs, were 42 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The maker of disposable medical devices posted revenue of $255.5 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $258.8 million.
Merit Medical expects full-year earnings in the range of $1.74 to $1.97 per share, with revenue in the range of $1.01 billion to $1.03 billion.
Merit Medical shares have dropped almost 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $54.84, a fall of roughly 1% in the last 12 months.