SAN DIEGO (AP) _ NuVasive Inc. (NUVA) on Wednesday reported a first-quarter loss of $7.5 million, after reporting a profit in the same period a year earlier.
The San Diego-based company said it had a loss of 15 cents per share. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The spinal device maker posted revenue of $271.2 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $261.1 million.
NuVasive shares have increased 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $70.16, a rise of 20% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NUVA at https://www.zacks.com/ap/NUVA
∎