Synovis Life Technologies posts Q4 EPS above the Street

Synovis Life Technologies, Inc. (Nasdaq: SYNO), a developer and seller of products for the surgical and interventional treatment of diseases, today reported fourth-quarter earnings above the consensus on Wall Street.

For the three months ended Oct. 31, the St. Paul, Minn.-based company recorded net income of $1.6 million, or $0.12 per diluted share, $0.03 above the $0.09 two analysts polled by Thomson Financial were on average expecting. For the same period last year, Synovis earned net income of $92,000, or $0.01 per diluted share.

Net revenue rose 29% to $18.9 million, while two analysts polled by Thomson Financial were on average projecting $18.58 million. The small cap earned $14.6 million in the same quarter last year. 

Surgical business revenue increased 28% to $10.3 million from $8.1 million in the year-ago period, while revenue in the firm’s interventional business revenue rose 31% to $8.6 million from $6.5 million a year earlier.

Shares of Synovis Life Technologies (SYNO) were halted in pre-market trading.

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