The Pleasanton, Calif.- based company for the second-quarter earned $17.8 million, or 20 cents a share vs. $10.1 million, or 11 cents a share, earned last year. Stripping out one-time items, the company earned $30.7 million, or 35 cents a share, missing analysts' forecasts by a penny. The earnings release was followed by a downgrade in rating to hold by Scott Sutherland, Securities Analyst from Wedbush Morgan.
Shares of Misonix (MSON - Get Report) rose by 22% to $3.16 after receiving FDA approval of Second Sonatherm Soft Tissue Ablation System. The medical equipment firm will now be allowed to market its Sonatherm in the United States to ablate certain soft tissue lesions in general surgery.