Local Tech Wire

RALEIGH, N.C. – Shares in (Nasdaq: SLXP) rose more than 3 percent immediately after the markets opened Tuesday following an earnings report that beat Wall Street expectations.

Salix traded at $37.49, up $1.11, shortly after trading began.

On Monday evening after the market close, Salix reported a loss of $25.4 million for the most recent quarter. The loss of 45 cents per share was 5 cents less than projected by Wall Street analysts, according to Thomson Reuters.

Salix lost $14 million a year ago.

Revenue did top expectations, reaching $44.1 million, which was $1.6 million higher than analysts at had expected. However, revenues declined from $44.8 million for the same quarter in 2009.

Salix had forecast revenues of $40 million that it made in the first quarter.

The company focuses on gastrointestinal products.

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