BALTIMORE (AP) _ Medifast Inc. (MED) on Tuesday reported first-quarter profit of $41.1 million.
On a per-share basis, the Baltimore-based company said it had net income of $3.46.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.72 per share.
The weight-loss company posted revenue of $340.7 million in the period.
Medifast expects full-year earnings to be $12.69 to $14.14 per share, with revenue in the range of $1.4 billion to $1.48 billion.
Medifast shares have increased 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $225, more than tripling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MED at https://www.zacks.com/ap/MED
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