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Wright Medical reports 4Q loss

AMSTERDAM (AP) _ Wright Medical Group Inc. (WMGI) on Tuesday reported a loss of $44.9 million in its fourth quarter.

The Amsterdam-based company said it had a loss of 43 cents per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, were 6 cents per share.

The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The orthopedic implant maker posted revenue of $193 million in the period, also exceeding Street forecasts. Sixteen analysts surveyed by Zacks expected $183.6 million.

For the year, the company reported that its loss widened to $432.4 million, or $4.20 per share. Revenue was reported as $690.4 million.

Wright Medical expects full-year results to range from a loss of 33 cents per share to a loss of 26 cents per share, with revenue in the range of $755 million to $765 million.

Wright Medical shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.86, a climb of 58 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 WMGI at https://www.zacks.com/ap/WMGI


Keywords: Wright Medical Group, Earnings Report