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NuVasive: 3Q Earnings Snapshot

·1 min read

SAN DIEGO (AP) _ NuVasive Inc. (NUVA) on Thursday reported third-quarter net income of $5.9 million.

On a per-share basis, the San Diego-based company said it had net income of 11 cents. Earnings, adjusted for one-time gains and costs, came to 54 cents per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The spinal device maker posted revenue of $295.3 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $258.8 million.

NuVasive shares have declined 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $49.27, a fall of 26% 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 NUVA at https://www.zacks.com/ap/NUVA