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SOUTH JORDAN, Utah (AP) — SOUTH JORDAN, Utah (AP) — Merit Medical Systems Inc. (MMSI) on Wednesday reported fourth-quarter profit of $33.4 million.
The South Jordan, Utah-based company said it had net income of 58 cents per share. Earnings, adjusted for non-recurring costs, came to 79 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The maker of disposable medical devices posted revenue of $293.4 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $289.8 million.
For the year, the company reported profit of $74.5 million, or $1.29 per share. Revenue was reported as $1.15 billion.
Merit Medical expects full-year earnings in the range of $2.80 to $2.89 per share, with revenue in the range of $1.19 billion to $1.21 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a MMSI">Zacks stock report on MMSI at https://www.zacks.com/ap/MMSI