News

K2M Group reports 4th-quarter loss but tops expectations

LEESBURG, Va. – LEESBURG, Va. (AP) _ K2M Group Holdings Inc. (KTWO) on Thursday reported a loss of $8.5 million in its fourth quarter.

On a per-share basis, the Leesburg, Virginia-based company said it had a loss of 21 cents.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.

The medical device company posted revenue of $54.2 million in the period.

For the year, the company reported profit of $39.2 million, or 97 cents per share. Revenue was reported as $216 million.

K2M Group expects full-year revenue in the range of $246 million to $250 million.

K2M Group shares have declined 35 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.76, a decline of 37 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KTWO at http://www.zacks.com/ap/KTWO

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Keywords: K2M Group, Earnings Report