Wright Medical: 2Q Earnings Snapshot
AMSTERDAM (AP) _ Wright Medical Group Inc. (WMGI) on Wednesday reported a loss of $17.8 million in its second quarter.
The Amsterdam-based company said it had a loss of 14 cents per share. Earnings, adjusted for one-time gains and costs, were 2 cents per share.
The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The orthopedic implant maker posted revenue of $229.7 million in the period, falling short of Street forecasts. Sixteen analysts surveyed by Zacks expected $233.5 million.
Wright Medical expects full-year earnings in the range of 15 cents to 20 cents per share, with revenue in the range of $925 million to $930 million.
Wright Medical shares have climbed 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.06, a climb of nearly 7% in the last 12 months.