Anika Therapeutics (ANIK) Tops Q1 EPS by 12c; $50M Buyback

Anika Therapeutics (NASDAQ: ANIK) reported Q1 EPS of $0.31, $0.12 better than the analyst estimate of $0.19. Revenue for the quarter came in at $24.7 million versus the consensus estimate of $21.88 million.

Announces $50 Million Share Repurchase Program.

“Anika is off to a strong start in 2019, with double-digit revenue growth year-over-year in all product franchises and solid earnings in the first quarter,” said Joseph Darling, President and Chief Executive Officer of Anika Therapeutics. “We have made continued progress transforming Anika into a global commercial company positioned to deliver a continuum of orthopedic and regenerative medicine therapies. We strengthened our executive leadership team with the appointment of a Vice President of Research and Development and a Vice President of U.S. Sales, expanded our international commercial team and remain on track to launch our first surgically-delivered therapy for bone repair procedures in the U.S. under our hybrid commercial model in the second half of 2019. Additionally, we are pleased to return capital to shareholders through our $50 million share repurchase program.”

For earnings history and earnings-related data on Anika Therapeutics (ANIK) click here.

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