Thursday, Somanetics Corp. (SMTS) reported a decline in third-quarter net income to $2.23 million or $0.17 per share from $3.05 million or $0.23 per share in the prior year period. On average, 6 analysts polled by Thomson Reuters expected earnings per share of $0.14. Analysts' estimate typically excludes one-time items.
Net revenues for the third quarter increased to $12.51 million from $12.37 million in the year earlier period. Four analysts estimated revenues of $13.09 million for the quarter.
Somanetics signed a three-year extension of its exclusive distribution agreement with Covidien for Europe, the Middle East and Africa.
Somanetics reiterated its fiscal 2009 net revenues guidance, expecting it to lie between $50 million and $52 million. Fiscal 2009 income before income taxes are still expected to be in the range of $11.2 million to $11.6 million. Four analysts estimate revenues of $50.60 million for fiscal 2009.
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