SurModics Raises FY16 Revenue, Non-GAAP EPS Guidance - Quick Facts

(RTTNews) - SurModics, Inc. (SRDX) announced the company now expects full-year revenue to be in the range of $63.0 million to $66.0 million, an increase in the previous range of $62.0 million to $66.0 million. SurModics reaffirmed its previous GAAP earnings range of $0.30 to $0.35 per share. Non-GAAP earnings per share is expected to be in the range of $0.75 to $0.85, up from a range of $0.66 to $0.75 per share.

Analysts polled by Thomson Reuters expect the company to report profit per share of $0.68 on revenue of $63.78 million. Analysts' estimates typically exclude special items.

The company noted that its fiscal 2016 revenue, GAAP earnings per share and non-GAAP earnings per share guidance ranges exclude the impacts of a $2.9 million, or $0.14 per share after-tax, royalty payment from a customer for the period from fiscal 2009 through fiscal 2016, that was reported to the company subsequent to March 31, 2016. This royalty revenue will be recognized in the third quarter of fiscal 2016.