CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Alphatec Holdings Inc. (ATEC) on Thursday reported a loss of $28.6 million in its third quarter.
The Carlsbad, California-based company said it had a loss of 19 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The medical equipment and supplies holding company posted revenue of $196.5 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $182.6 million.
Alphatec expects full-year revenue of $760 million.
Alphatec shares have risen 78% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.33, nearly tripling 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 ATEC at https://www.zacks.com/ap/ATEC
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