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SOUTH JORDAN, Utah (AP) — SOUTH JORDAN, Utah (AP) — Merit Medical Systems Inc. (MMSI) on Wednesday reported first-quarter profit of $20.7 million.
On a per-share basis, the South Jordan, Utah-based company said it had net income of 36 cents. Earnings, adjusted for non-recurring costs, were 64 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The maker of disposable medical devices posted revenue of $297.6 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $280.8 million.
Merit Medical expects full-year earnings in the range of $2.83 to $2.93 per share, with revenue in the range of $1.22 billion to $1.23 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