UPDATE 1-Synovis Q3 results beat Street

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Aug 27 (Reuters) - Medical device maker Synovis Life Technologies Inc SYNO.O posted a quarterly profit that beat Wall Street estimates, helped by improved margins.

For the third quarter ended July 31, the company earned $1.8 million, or 14 cents a share, compared with $1.2 million, or 10 cents a share, a year earlier.

Revenue rose 35 percent to $13.4 million.

Analysts on average were expecting earnings of 12 cents a share on revenue of $12.7 million, according to Reuters Estimates.

Third-quarter gross margin rose to 69 percent, a four-percentage point gain over the same period a year earlier.

Revenue from the microsurgical product line rose 55 percent and tissue patch products increased 31 percent, while revenue from Peri-Strips Dry rose 37 percent.

Shares of the St. Paul, Minnesota-based company closed at $22.57 Wednesday on Nasdaq. (Reporting by Anand Basu in Bangalore; Editing by Pratish Narayanan)