AtriCure’s Q1 numbers top estimates

AtriCure (NSDQ:ATRC) beat the consensus forecast at both the top and bottom lines with its 1st-quarter results, sending share prices up 3% today.

Losses for the Mason, Ohio-based medical device company rose4.7% to -$10.2 million, or -32¢ per share, on sales growth of 14.8% for the 3 months ended March 31. Analysts on Wall Street were looking for losses of -35¢ on sales of $40.3 million.

The news sent ATRC shares up 3.0% to $21.30 apiece today in early trading.

“During the 1st quarter of 2017, we made significant progress across our strategic priorities, achieving solid results in our base open business while driving forward our transformation into the minimally invasive market,” president & CEO Mike Carrel said in prepared remarks. “We are advancing our clinical trials meaningfully with several new sites enrolling for Converge and expect enrollment to accelerate in the 2nd half of the year. We are looking forward to continued momentum across our business throughout 2017.”

AtriCure said it still expects to post losses of -94¢ to $1.04 per share this year, on constant-currency sales of $175 million to $178 million.

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