MiMedx Q3 Adjusted Profit Meets Street Mark, Sales Beat; Shares Edge Up 2.8%

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MiMedx Group, Inc (MDXG), a developer of regenerative biomaterial products, reported Thursday Q3 adjusted net profit of $0.06 per share, unchanged from the prior year period and came in line with the Street estimate provided by Capital IQ.

Net sales were $64.4 million, up from $49 million reported for the same period last year and came in higher than the $63.1 million Street estimate.

For Q4, the company expects revenues to range from $69.4 million to $72.9 million. The Street consensus calls for revenues of $70.1 million.

For 2016, the company expects adjusted earnings to range from $0.21 to $0.23 per share on revenues of between $244.5 million and $248 million. The company previously issued revenue guidance of $243.5 million to $248 million. The Street consensus calls for earnings of $0.22 per share on revenues of $244 million.

Shares were 2.8% higher in recent morning trade.

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