ALAMEDA, Calif. (AP) — ALAMEDA, Calif. (AP) — Penumbra Inc. (PEN) on Tuesday reported fourth-quarter profit of $33.7 million.
On a per-share basis, the Alameda, California-based company said it had net income of 86 cents. Earnings, adjusted for non-recurring costs, came to 97 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The medical device maker posted revenue of $315.5 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $312.2 million.
For the year, the company reported profit of $14 million, or 36 cents per share. Revenue was reported as $1.19 billion.
Penumbra expects full-year revenue in the range of $1.34 billion to $1.36 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 PEN at https://www.zacks.com/ap/PEN
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