KNSY up almost 2 points on strong earnings. The stock needs to get thru $20.
Kensey Nash Corp. (KNSY) boosted its estimated results for the third quarter and fiscal 2003, citing second-quarter results and the visibility for the period.
Kensey Nash, which makes medical devices, now sees third-quarter earnings of 16 cents a share, on revenue of $11 million. For fiscal 2003, the company predicts EPS growth of 40% to 50%, despite an expected increase in average shares.
Analysts expected third quarter earnings of 15 cents a share, and fiscal 2003 earnings of 59 cents a share.
Full-year results expected by Wall Street would represent a 37% increase from Kensey Nash's fiscal 2002 earnings of 43 cents a share, on revenue of $29.03 million.
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01-20-03 1816ET
