Spectranetics posts profit in 2Q

Wed, 07/28/2010 - 1:45pm
The Associated Press

COLORADO SPRINGS, Colo. (AP) — Medical device maker Spectranetics Corp.. turned in a profit in the second quarter as operating expenses dipped.

Spectranetics recorded net income of $91,000, or no cents per share, in the quarter ended June 30. That compares with a loss of $2.3 million, or 7 cents per share, during the same period a year earlier. Quarterly revenue rose 3.4 percent to $30 million from $29 million.

Excluding one-time costs, the company posted net income of $31,000. Analysts polled by Thomson Reuters expected a loss of 0.9 cents per share on revenue of $30.3 million.

Shares of Spectranetics rose 3 cents to close at $5.24.


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