AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Tuesday reported fourth-quarter earnings of $140.6 million.
The Audubon, Pennsylvania-based company said it had net income of $1.03 per share. Earnings, adjusted for one-time gains and costs, were $1.28 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The medical device company posted revenue of $826.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $787.9 million.
For the year, the company reported profit of $537.9 million, or $3.92 per share. Revenue was reported as $2.94 billion.
Globus Medical expects full-year earnings in the range of $4.40 to $4.50 per share, with revenue in the range of $3.18 billion to $3.22 billion.
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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 GMED at https://www.zacks.com/ap/GMED
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