Eton Shares Jump 12% as Quarterly Revenue More Than Doubles

Eton posted a third-quarter profit of $35.2 million, or $1.06 a share, compared with a loss of $1.9 million, or 7 cents a share, a year earlier. Analysts surveyed by FactSet had expected earnings of 31 cents a share. Adjusted earnings were 50 cents a share.

Revenue of $57.9 million topped analyst estimates of $42 million. Chief Executive Sean Brynjelsen said the company exceeded its goal of reaching a $200 million annualized revenue run rate five quarters ahead of schedule, citing strong growth across its portfolio.

Eton raised its revenue guidance for the year to more than $175 million, from its previous outlook of more than $145 million. The shares have more than tripled year to date.