ALAMEDA, Calif. (AP) _ Penumbra Inc. (PEN) on Thursday reported third-quarter net income of $11.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Alameda, California-based company said it had profit of 32 cents. Earnings, adjusted for pretax gains, came to 25 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The medical device maker posted revenue of $139.5 million in the period.
Penumbra shares have climbed 42% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $172.94, an increase of 11% in the last 12 months.