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SurModics: Fiscal 3Q Earnings Snapshot

EDEN PRAIRIE, Minn. (AP) _ SurModics Inc. (SRDX) on Wednesday reported fiscal third-quarter net income of $1.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Eden Prairie, Minnesota-based company said it had net income of 11 cents. Earnings, adjusted for amortization costs and non-recurring costs, were 15 cents per share.

The drug delivery technology company posted revenue of $24.3 million in the period.

SurModics expects full-year earnings in the range of 41 cents to 49 cents per share, with revenue in the range of $92 million to $94 million.

SurModics shares have dropped 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $41.70, a fall of 29% 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 SRDX at https://www.zacks.com/ap/SRDX