SAN DIEGO (AP) _ NuVasive Inc. (NUVA) on Wednesday reported first-quarter net income of $5.3 million.
On a per-share basis, the San Diego-based company said it had profit of 10 cents. Earnings, adjusted for one-time gains and costs, were 48 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The spinal device maker posted revenue of $259.9 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $259.7 million.
NuVasive shares have declined 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.81, a decline of 13% in the last 12 months.