ALAMEDA, Calif. (AP) — Penumbra Inc. (PEN) on Tuesday reported first-quarter earnings of $11.8 million.
The Alameda, California-based company said it had profit of 32 cents per share. Earnings, adjusted for pretax gains, came to 27 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The medical device maker posted revenue of $169.2 million in the period.
Penumbra expects full-year revenue in the range of $695 million to $705 million.
Penumbra shares have risen 65% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $288.93, a climb of 69% in the last 12 months.