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SurModics: Fiscal 4Q Earnings Snapshot

EDEN PRAIRIE, Minn. (AP) _ SurModics Inc. (SRDX) on Thursday reported fiscal fourth-quarter net income of $3.6 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 profit of 26 cents. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were 37 cents per share.

The drug delivery technology company posted revenue of $30.8 million in the period.

For the year, the company reported net income of $7.6 million, or 55 cents per share, swinging to a profit in the period. Revenue was reported as $100.1 million.

SurModics expects full-year results to range from a loss of 44 cents per share to a loss of 14 cents per share, with revenue in the range of $87 million to $91 million.

SurModics shares have risen 0.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.51, a decrease of 25% 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