ALACHUA, Fla. (AP) — ALACHUA, Fla. (AP) — AxoGen Inc. (AXGN) on Tuesday reported second-quarter net income of $579,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the Alachua, Florida-based company said it had net income of 1 cent. Earnings, adjusted for stock option expense, came to 12 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The regenerative medicine company posted revenue of $56.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $52.9 million.
AxoGen expects full-year revenue of $219 million.
AxoGen shares have decreased 24% since the beginning of the year. The stock has increased 55% in the last 12 months.
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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 AXGN at https://www.zacks.com/ap/AXGN
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