Surmodics exited the fourth quarter of fiscal 2021 wherein both earnings and revenues beat the consensus mark. The Zacks Consensus Estimate for earnings currently stands at $1.45. The Zacks Consensus Estimate for the same is currently pegged at $126.6 million.Īdjusted loss per share for fiscal 2022 is expected between $1.75 and $1.25. Fiscal 2022 Guidanceįor fiscal 2022, the company projects revenues to be $97-$101 million. Surmodics exited the fiscal 2021 with cash and cash equivalents of $31.2 million compared with $62.2 million at the end of fiscal third quarter.Ĭumulative net cash flow from operating activities at the end of the fiscal fourth quarter was $15.4 million compared with $14 million a year ago. Operating loss totaled $0.5 million, narrower than the prior-year quarter’s loss of $1.9 million. Total operating expenses of $24.5 million fell 0.3% year over year. Research and development expenses declined 16.1% year over year to $10.7 million. Selling, general & administrative expenses rose 7.7% to $7.9 million. Gross margin contracted 4 basis points (bps) to 82.7%. In the quarter under review, Surmodics’ gross profit rose 6.3% to $19.8 million. Research, development and other revenues were $2.6 million, up 23.8% year over year. Royalty and license fee revenues totaled $8.9 million, down 10.1% from the prior-year quarter. In the quarter under review, Product sales were $12.5 million, up 18.2% from the prior-year quarter. The company derives revenues from three primary sources - Product sales, Royalties and license fees, and Research, development and other fees. price-consensus-eps-surprise-chart | Surmodics, Inc. In the quarter under review, IVD sales jumped 22.6% to $6.6 million, driven by broad-based growth coupled with favorable comparison related to antigen sales. In the reported quarter, sales at the Medical Device segment amounted to $17.4 million, up 1.3% from the year-ago quarter. Surmodics operates via two reportable segments - Medical Device and IVD. The top line was driven by continued strength in its In Vitro Diagnostics (“IVD”) and Product revenues.įor fiscal 2021, the company reported revenues of $105.1 million, up 10.8% from that of fiscal 2020. The figure outpaced the Zacks Consensus Estimate by 6.7%. Surmodics delivered revenues of $24 million in the fiscal fourth quarter, up 6% year over year. GAAP loss per share for the quarter was 2 cents compared with the year-ago loss of 22 cents.įor fiscal 2021, the company reported GAAP earnings per share of 37 cents, up 184.6% from the previous year. The company had reported an adjusted loss per share of 18 cents in the year-ago quarter. The company reported fourth-quarter fiscal 2021 adjusted loss per share of 10 cents, which was narrower than the Zacks Consensus Estimate of a loss of 25 cents per share. SRDX declined 2.2% on Nov 11, following the company's fiscal fourth-quarter 2021 results.
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