Wright Medical Group Inc. (WMGI) Thursday reported first-quarter net income of $8.4 million or $0.20 per share, compared to $4.6 million or $0.12 per share in the comparable quarter last year.
Excluding items, adjusted loss for the quarter were $922 thousand or $0.02 per share, compared to adjusted income of $6.5 million or $0.17 per share a year ago.
Revenues for the quarter were of $120.36 million, down from $126.66 million a year ago.
Analysts polled by Thomson Reuters estimated a loss of $0.05 per share on revenues of $121.15 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal year 2013, the company anticipates no change to its previously issued full-year 2013 net sales guidance range of $485 million to $495 million.
Including the impact of the BioMimetic transaction, which closed on March 1, 2013, the company anticipates as adjusted earnings per share, including stock-based compensation, to be in the range of a loss of $0.26 to $0.34 per share.
Earlier, the company expected adjusted earnings, including stock-based compensation, to be in the range of $0.00 to $0.06 per share.
Analysts currently expect loss of $0.29 per share on revenues of $491.26 million for fiscal year 2013.
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