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SurModics: Fiscal 2Q Earnings Snapshot

EDEN PRAIRIE, Minn. (AP) _ SurModics Inc. (SRDX) on Wednesday reported fiscal second-quarter earnings of $1.3 million.

On a per-share basis, the Eden Prairie, Minnesota-based company said it had net income of 9 cents. Earnings, adjusted for non-recurring gains, were 7 cents per share.

The drug delivery technology company posted revenue of $22.7 million in the period.

SurModics expects full-year earnings in the range of 26 cents to 36 cents per share, with revenue in the range of $88.5 million to $91.5 million.

SurModics shares have declined 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $42.99, an increase of 16% 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 SRDX at https://www.zacks.com/ap/SRDX