Anika Therapeutics Beats Revenue and Earnings Estimates
Anika Therapeutics (NASDAQ: ANIK) delivered its fourth-quarter earnings report Thursday night, beat Wall Street's consensus estimates on both the top and bottom lines
The medical technology company, which focuses on the $7 billion sports and regenerative medicine market, offers products that address a continuum of medical issues from arthritis pain management to joint restoration.
For the quarter, Anika reported sales of $29.77 million, up 10% from the previous year, and profits of $0.43 a share, down from $0.54 a share a year ago. But earnings were expected to be lower this quarter because of the costs associated with its acquisition of Parcus Medical and Arthrosurface, and the launch of a new product, Tactoset, an injectable bone substitute.
Source Fool.com