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Wright Medical: 1Q Earnings Snapshot

AMSTERDAM (AP) _ Wright Medical Group Inc. (WMGI) on Tuesday reported a loss of $36.6 million in its first quarter.

On a per-share basis, the Amsterdam-based company said it had a loss of 29 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 5 cents per share.

The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The orthopedic implant maker posted revenue of $230.1 million in the period, also surpassing Street forecasts. Sixteen analysts surveyed by Zacks expected $226.6 million.

Wright Medical shares have climbed almost 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $29.31, an increase of 42% 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 WMGI at https://www.zacks.com/ap/WMGI