AUDUBON, Pa. (AP) — AUDUBON, Pa. (AP) — Globus Medical Inc. (GMED) on Tuesday reported third-quarter net income of $51.8 million.
On a per-share basis, the Audubon, Pennsylvania-based company said it had net income of 38 cents. Earnings, adjusted for non-recurring costs, came to 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The medical device company posted revenue of $625.7 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $604.9 million.
Globus Medical expects full-year earnings in the range of $2.90 to $3 per share, with revenue in the range of $2.49 billion to $2.5 billion.
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