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Inari Medical Q1 Earnings Rise as Revenue More than Doubles; FY21 Outlook Also Tops Expectations

05/11/2021 12:15

04:14 PM EDT, 05/11/2021 (MT Newswires) -- Inari Medical (NARI) reported after markets closed on Tuesday Q1 EPS of $0.13, up from $0.09 a year earlier. Analysts polled by Capital IQ had called for $0.05.

Revenue totaled $57.4 million for the March quarter, more than doubled compared with $27 million a year ago. Wall Street was looking for $55.1 million.

The commercial-stage medical device company said it ended Q1 with $174.1 million in cash, cash equivalents, and short-term investments.

Moving forward, Inari said it anticipates full-year 2021 revenue to be in the range of $240 million to $250 million. That compares with the Street estimate of $234.1 million.

Shares of the Irvine, Calif.-based company rose as much as 2% in after-hours trade.

Price: 94.00, Change: +1.81, Percent Change: +1.96