ALPHARETTA, Ga. (AP) — ALPHARETTA, Ga. (AP) — Avanos Medical, Inc. (AVNS) on Wednesday reported a third-quarter loss of $3.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Alpharetta, Georgia-based company said it had a loss of 8 cents. Earnings, adjusted for one-time gains and costs, came to 30 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The medical technology company posted revenue of $171.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $164.8 million.
Avanos Medical expects full-year earnings in the range of $1.05 to $1.15 per share, with revenue in the range of $675 million to $685 million.
Avanos Medical shares have decreased 32% since the beginning of the year. The stock has decreased 17% in the last 12 months.
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