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Merit Medical beats 4Q profit forecasts

SOUTH JORDAN, Utah (AP) _ Merit Medical Systems Inc. (MMSI) on Tuesday reported fourth-quarter earnings of $7.5 million.

The South Jordan, Utah-based company said it had net income of 17 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to 31 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The maker of disposable medical devices posted revenue of $157.7 million in the period.

For the year, the company reported profit of $20.1 million, or 45 cents per share. Revenue was reported as $603.8 million.

Merit Medical expects full-year earnings in the range of $1.15 to $1.20 per share, with revenue in the range of $713 million to $723 million.

Merit Medical shares have risen 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.65, a rise of 66 percent 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 MMSI at https://www.zacks.com/ap/MMSI

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Keywords: Merit Medical, Earnings Report