IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Axonics Modulation Technologies Inc. (AXNX) on Thursday reported a third-quarter loss of $21,000, after reporting a profit in the same period a year earlier.
The Irvine, California-based company said it had a loss of less than 1 cent on a per-share basis. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The medical technology company posted revenue of $116.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $114.5 million.
Axonics shares have climbed 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $70.45, an increase of 32% in the last 12 months.
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