SurModics (SRDX) Tops Q4 EPS by 17c; Provides Mixed Guidance

SurModics (NASDAQ: SRDX) reported Q4 EPS of $0.26, $0.17 better than the analyst estimate of $0.09. Revenue for the quarter came in at $18.2 million versus the consensus estimate of $16.09 million.

GUIDANCE:

SurModics sees FY2017 EPS of $0.15-$0.35, versus the consensus of $1.04. SurModics sees FY2017 revenue of $63-67 million, versus the consensus of $65.3 million.

“The fourth quarter marked the continuation of the outstanding execution by the Surmodics team in fiscal 2016. I am proud of our accomplishments as we surpassed our fiscal 2016 financial goals and successfully integrated the Creagh Medical and NorMedix teams with Surmodics. We have also made significant progress on all key strategic growth priorities,” said Gary Maharaj, president and chief executive officer. “Most notably, we have frozen the design of our first 510(k) product and completed an interim look at the data from the investigational device exemption (IDE) study of our SurVeil® drug-coated balloon platform.”

For earnings history and earnings-related data on SurModics (SRDX) click here.

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