Tactile Systems Technology: 2Q Earnings Snapshot

MINNEAPOLIS (AP) _ Tactile Systems Technology Inc. (TCMD) on Monday reported second-quarter earnings of $2.6 million.

On a per-share basis, the Minneapolis-based company said it had net income of 13 cents. Earnings, adjusted for pretax gains, were 7 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The medical device maker posted revenue of $34.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $31.2 million.

Tactile Systems Technology expects full-year revenue in the range of $134 million to $135 million.

Tactile Systems Technology shares have climbed 68 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $48.78, a rise of 72 percent 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 TCMD at https://www.zacks.com/ap/TCMD