![]() ![]() ![]() Surmodics saw a successful first-patient usage of Sublime. The company saw strength across its reportable segments in the fourth quarter, which is encouraging. The company witnessed narrower year-over-year bottom-line results and revenue growth in the quarter under review. 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 Quick Quote SRDX - Free Report) declined 2.2% on Nov 11, following the company's fiscal fourth-quarter 2021 results. ![]()
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