Why Wright Medical Group Shares Popped

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What: Shares of medical-device makerWright Medical Group (NAS: WMGI) have popped today by upward of 10% after the company reported earnings and strong guidance.

So what: Revenue in the first quarter came in at $126.7 million, with net income of $4.6 million, or $0.12 per share. Both top and bottom line results registered a beat, as the Street was looking for just $124.5 million in sales and a profit of $0.09 per share.


Now what: Full-year 2012 revenue is expected to be between $472 million and $489 million, with earnings per share of $0.26-$0.36, far above the $0.16 per-share profit that investors were looking for. CEO Robert Palmisano said the foot and ankle segments saw strong sales and the company's planned transition to direct sales is proceeding as planned.

Interested in more info on Wright Medical Group? Add it to your watchlist byclicking here.

At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.

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