Glaukos raises guidance after Street-beating Q2

Glaukos (NYSE:GKOS) today released 2nd quarter earnings that topped The Street’s expectations for earnings per share and revenue marks, lifting its full year 2016 revenue expectations.

The Laguna Hills, Calif.-based company reported profits of $2.3 million, or 6¢ per share, on sales of $28.6 million for the 3 months ended June 30.

Glaukos saw a huge turnaround from $32.5 million in losses last year during the same quarter, shifting out of the red and into the black as sales grew 60.8%.

Earnings per share were well above the 2¢ loss per share that analysts on Wall Street were looking for, and Revenue clocked in at nearly $3 million over expectations.

Glaukos shares are down 8¢ to trade at $33.85 as of 11:11 a.m. EDT.

“We are extremely pleased and excited about the way ophthalmic surgeons are embracing our flagship iStent Trabecular Micro Bypass stent to effectively manage glaucoma patients’ intraocular pressure. Our second quarter results illustrate the continuing momentum of iStent’s adoption ramp, driven by our efforts to grow our customer base, expand the body of clinical evidence that demonstrates iStent’s reliable performance and extend our reach to key international markets,” CEO Thomas Burns said in a press release.

Glaukos lifted its 2016 net sales guidance, expecting to bring in between $105 million and $107 million. Those numbers are up from prior guidance that expected between $100 and $102 million, and implies net sales growth of 46% to 49% compared to 2015.

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