Wright Medical Says 3Q Profit Was Unchanged

For the full year, Wright narrowed its profit and revenue forecasts for the year. It now expects to earn between 80 and 84 cents per share, an estimate that excludes 22 to 23 cents per share in restructuring and stock-based compensation costs. Including those costs, its estimate comes to about 57 to 62 cents per share.

Wright now estimates revenue of $480 million to $485 million in revenue. Analysts expect a profit of 56 cents per share and $477.4 million in revenue, on average.

Wright previously called for an adjusted profit of 78 cents to 85 cents per share, with $475 million to $485 million in revenue.

The company is expecting a profit of 22 cents to 26 cents per share in the fourth quarter, with 6 to 7 cents per share in one-time items. Revenue was projected at $122 million to $127 million.

Analysts are looking for earnings of 19 cents per share and sales are $124.8 million.

In aftermarket trading, Wright stock picked up 39 cents, or 2.5 percent, to $15.79 after closing the regular session at $15.40.