Surgical products company ArthroCare Corp. (ARTC) Thursday reported fourth-quarter net loss to common shares of $29.3 million or $1.06 per share, compared to net income of $10 million or $0.30 per share last year.
Analysts polled by Thomson Reuters expected earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Results for the quarter included a charge of $74 million for the proposed settlement of securities class actions, partly offset by proceeds of $7.8 million to settle the derivative actions.
Revenue for the quarter slightly fell to $92.4 million from $92.6 million a year ago. Analysts expected revenues of $97.47 million.
by RTT Staff Writer
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