Surmodics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2024
May 01, 2024 at 07:00 am EDT
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Surmodics, Inc. reported earnings results for the second quarter and six months ended March 31, 2024. For the second quarter, the company reported revenue was USD 31.96 million compared to USD 27.2 million a year ago. Net income was USD 0.247 million compared to net loss of USD 7.73 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.55 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to diluted loss per share from continuing operations of USD 0.55 a year ago.
For the six months, revenue was USD 62.51 million compared to USD 52.13 million a year ago. Net loss was USD 0.539 million compared to USD 15.58 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 1.11 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to USD 1.11 a year ago.
Surmodics, Inc. is a provider of performance coating technologies for intravascular medical devices and chemical and biological components for in vitro diagnostic (IVD) immunoassay tests and microarrays. The Company's segments include Medical Device and IVD. The Medical Device segment manufactures and licenses performance coatings, including surface modification coating technologies to improve access, deliverability and predictable deployment of medical devices and drug-delivery coating technologies to provide site-specific drug-delivery from the surface of a medical device, with end markets that include neurovascular, peripheral, coronary and structural heart. It manufactures vascular intervention medical devices, including drug-coated balloons, and radial access balloon catheters and guide sheaths. The IVD segment manufactures chemical and biological components used in in vitro diagnostic immunoassay and molecular tests within the diagnostic and biomedical research markets.