Given imaging surges in Q3 net income; shares down
Given imaging shares slide after the company reports its Q3 results, showing a 60% increase in net income.
Given Imaging saw moderate growth in revenue during its 3rd quarter, and posted a 60% increase in net income.
The Israel-based medical device maker posted $6 million in profit, or 19¢ per share on sales of $45.4 million for the 3 months ended Sept. 30. That compared with a net income of $3.8 million, or 12¢ per share on sales of $44.7 million during the same period last year.
That represents a 1.6% increase in sales year-over-year. Excluding the impact of foreign currency, Q3 sales amounted to $46.3 million, showing a 4% increase compared to the same period last year.