Wright Medical Group (WMGI) Tops Q2 EPS by 2c

Wright Medical Group (NASDAQ: WMGI) reported Q2 EPS of ($0.07), $0.02 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $179.7 million versus the consensus estimate of $178.17 million.

Outlook

The company continues to anticipate net sales for full-year 2017 of approximately $755 million to $765 million, representing an as reported growth rate of 9% to 11% over 2016. This guidance range assumes an approximate 1% headwind from currency for the full year, which is approximately 1% of cushion as compared to current rates. In addition, this range implies second half of 2017 constant currency revenue growth of 12% to 15%, excluding the estimated impact of the four extra selling days in Q4 of 2017.

The company continues to anticipate full-year 2017 non-GAAP adjusted EBITDA from continuing operations, as described in the non-GAAP reconciliation provided later in this release, of $78.5 million to $85.5 million.

The company continues to anticipate non-GAAP adjusted earnings per share from continuing operations, including share-based compensation, as described in the non-GAAP to GAAP reconciliation provided later in this release, for full-year 2017 of $(0.33) to $(0.26) per diluted share

For earnings history and earnings-related data on Wright Medical Group (WMGI) click here.

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