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Spectranetics reports 4Q loss

COLORADO SPRINGS, Colo. (AP) _ The Spectranetics Corp. (SPNC) on Thursday reported a loss of $12.6 million in its fourth quarter.

The Colorado Springs, Colorado-based company said it had a loss of 29 cents per share. Losses, adjusted for costs related to mergers and acquisitions and non-recurring costs, were 21 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.

The medical device maker posted revenue of $71.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $70 million.

For the year, the company reported that its loss narrowed to $58.1 million, or $1.35 per share. Revenue was reported as $270.8 million.

Spectranetics expects a full-year loss of $1.43 to $1.31 per share, with revenue in the range of $293 million to $306 million.

Spectranetics shares have climbed slightly more than 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.55, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPNC at https://www.zacks.com/ap/SPNC


Keywords: Spectranetics, Earnings Report