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SurModics: Fiscal 1Q Earnings Snapshot

January 30, 2019

EDEN PRAIRIE, Minn. (AP) _ SurModics Inc. (SRDX) on Wednesday reported fiscal first-quarter net income of $1.3 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 net income of 9 cents. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.

The drug delivery technology company posted revenue of $22.2 million in the period.

SurModics expects full-year earnings in the range of 2 cents to 22 cents per share, with revenue in the range of $94 million to $97 million.

SurModics shares have increased 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $52, an increase of 77 percent 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 SRDX at https://www.zacks.com/ap/SRDX

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