Penumbra Q3 Profit Falls to $42.28 Million Despite 15.6% Revenue Growth

Penumbra Inc. (PEN) reported third-quarter earnings of $42.28 million, or $1.07 per share, down from $45.85 million, or $1.17 per share, in the same period last year. Revenue for the quarter rose 15.6% to $410.15 million from $354.69 million a year earlier, the medical device maker said. The results reflect lower GAAP profitability even as top-line sales grew by double digits year over year.