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ArthroCare Q4 Earnings Preview
Posted February 9, 2012
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ArthroCare (NASDAQ:ARTC) was incorporated in California in 1993 and reincorporated in Delaware in 1995. The Company is a multi-business medical device Company that develops, manufactures and markets minimally invasive surgical products, many of which are based on its patented Coblation(r) technology. The Company has grown well beyond its roots in arthroscopy to capitalize on numerous market opportunities across several medical specialties, improving many existing soft-tissue surgical procedures and enabling new minimally invasive procedures. The company will report its fourth quarter earnings on Tuesday, February 14, 2012.
Expectations: The consensus estimate for the company's earnings is 38 cents per share, up 26.7% from a year ago when ArthroCare reported earnings of 30 cents per share. For the fiscal year, analysts are projecting earnings of $1.50 per share. The company's revenue is expected to beat the year-earlier total of $88.1 million by 11.2% to finish at $98 million for the quarter. The company is projected to report revenue of $360.9 million for the fiscal year.
Performance: The decline in net income in the third quarter snapped a three-quarter streak of increasing profit. Net income fell 73.8% in the third quarter from the year earlier, while the figure rose 52.2% in the second quarter, 44.7% in the first quarter and 39.2% in the fourth quarter of the last fiscal year. Revenue dropped in the third quarter, following an increase in the previous quarter. The 5.3% drop in the most recent quarter brought revenue down to $83.3 million. The quarter before that, revenue rose 2.8%. The stock price has risen from $28.28 on November 11, 2011 to $32.52 over the past quarter. ArthroCare's best recent streak was when its price gained $1.94 per share between December 9, 2011 and December 27, 2011.
Ratings: Most analysts (66.7%) rate the stock a buy. In comparison, its nearest 10 competitors only average 43.7% buys. Analysts' opinions about the stock have worsened recently, as buy ratings have dropped slightly over the last three months.
Earnings estimates provided by Zacks.
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