SurModics, Inc. (SRDX) Tops Q2 EPS by 1c; Approves $20M Buyback

July 31, 2013 4:27 PM EDT
SurModics, Inc. (NASDAQ: SRDX) reported Q2 EPS of $0.22, $0.01 better than the analyst estimate of $0.21. Revenue for the quarter came in at $14.3 million versus the consensus estimate of $15.03 million.

The Company also announced today that its Board of Directors has authorized the repurchase of up to $20 million of its outstanding common stock. Repurchases may be effected through open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, tender offers or by any combination of these methods. The number of shares to be repurchased and the timing of any repurchases will depend on factors such as the Company’s stock price, economic and market conditions, the relative attractiveness of corporate development opportunities and other alternative uses of capital, and corporate and regulatory requirements. The share repurchase authorization does not have a fixed expiration date.

For earnings history and earnings-related data on SurModics, Inc. (SRDX) click here.

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