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SurModics: Fiscal 4Q Earnings Snapshot

November 9, 2018

EDEN PRAIRIE, Minn. (AP) _ SurModics Inc. (SRDX) on Friday reported a fiscal fourth-quarter loss of $1.8 million, after reporting a profit in the same period a year earlier.

The Eden Prairie, Minnesota-based company said it had a loss of 13 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 5 cents per share.

The drug delivery technology company posted revenue of $23 million in the period.

For the year, the company reported a loss of $4.5 million, or 34 cents per share, swinging to a loss in the period. Revenue was reported as $81.3 million.

SurModics expects full-year results to range from a loss of 7 cents per share to earnings of 23 cents per share, with revenue in the range of $92 million to $97 million.

SurModics shares have more than doubled since the beginning of the year. The stock has more than doubled 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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