Surmodics raises guidance, beats Q1 earnings

Shares in Surmodics (NSDQ:SRDX) rose today after the medical device maker met expectations on Wall Street with its fiscal 2017 1st quarter results.

The Eden Prairie, Minn.-based company posted profits of $2.3 million, or 17¢ per share, on sales of $17.8 million for the 3 months ended Dec. 31, for bottom-line loss of -13.3% on sales growth of 7.9% compared with the same period last year.

Adjusted to exclude 1-time items, earnings per share were 19¢, ahead of consensus on The Street, where analysts were looking for sales of $15.8 million.

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