IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Axonics Modulation Technologies Inc. (AXNX) on Wednesday reported fourth-quarter profit of $6.6 million.
The Irvine, California-based company said it had profit of 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The medical technology company posted revenue of $109.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $109.3 million.
For the year, the company reported that its loss narrowed to $6.1 million, or 12 cents per share. Revenue was reported as $366.4 million.
Axonics shares have risen 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $68.46, a climb of 14% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXNX at https://www.zacks.com/ap/AXNX