MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Tactile Systems Technology Inc. (TCMD) on Tuesday reported fourth-quarter net income of $8.2 million.
On a per-share basis, the Minneapolis-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs, came to 38 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The medical device maker posted revenue of $77.7 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $78.8 million.
For the year, the company reported profit of $28.5 million, or $1.23 per share. Revenue was reported as $274.4 million.
Tactile Systems Technology expects full-year revenue in the range of $300 million to $305 million.
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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 TCMD at https://www.zacks.com/ap/TCMD