Atricure gains on earnings, rev beat

AtriCure (NSDQ:ATRC) announced its 2nd quarter earnings, beating street estimates for both earnings and revenue.

Atricure saw losses of $4.9 million on total sales of $32.6 million for the 3 months ended June 30, $10 million up from their 2014 2nd quarter numbers.

The company reported 81.7% higher losses, but grew revenue 22.9% compared to the same period last year.

Adjusted to exclude 1-time items, losses per share were 18¢, beating analyst loss estimates by 5¢.

The company’s shares rose in response to the news, up 4.51% as of 5:00 p.m., EST.

“We are pleased by our results this quarter which reflect continued stability in our business and the solid foundation AtriCure is building for future growth. With our long term investments in clinical trials, innovation, and physician training and education, we look forward to continuing to advance the treatment of atrial fibrillation,” CEO Mike Carrel said in a press release.

In March, AtriCure announced a new indication for its cryoablation device – temporary pain relief for some cardiac surgery patients.

AtriCure said its CryoIce ablation probe is designed to temporarily manage pain through cryoanalgesia, or ablating the affected nerves. The technique can pause the transmission of pain impulses to the brain for days or even weeks, the company said.

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