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Tactile Systems Technology: 3Q Earnings Snapshot

·1 min read

MINNEAPOLIS (AP) _ Tactile Systems Technology Inc. (TCMD) on Monday reported third-quarter earnings of $2.4 million.

The Minneapolis-based company said it had net income of 12 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.

The medical device maker posted revenue of $49.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $46.7 million.

Tactile Systems Technology expects full-year revenue in the range of $184.9 million to $186.9 million.

Tactile Systems Technology shares have dropped 45% since the beginning of the year. In the final minutes of trading on Monday, shares hit $37.17, a decrease of 18% 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 TCMD at https://www.zacks.com/ap/TCMD