Sales rise, shares tumble at NeuroMetrix

NeuroMetrix Inc. said today that its fourth-quarter profit rose 50 percent on strong sales.

But results fell below Wall Street expectations, placing pressure on shares of the medical device maker.

Shares of NeuroMetrix fell $1.09, or 8.2 percent, to $12.21 in morning trading on the Nasdaq. Shares have traded between $11 and $41.19 over the past 52 weeks.

Net income grew to $1.2 million, or 9 cents per share, from about $805,000, or 6 cents per share, in the year-ago period. Revenue rose 38 percent to $14.2 million from $10.3 million.

For the full year, the company posted net income of $5.3 million, or 40 cents per share, up from $938,000, or 7 cents per share, in 2005. Revenue rose 61 percent to $55.2 million from $34.3 million. (AP)