AtriCure posts mixed bag Q3

AtriCure (NSDQ:ATRC) today posted third quarter earnings that beat Wall Street expectations for sales, but missed on loss-per-share consensus.

The Mason, Ohio-based company posted losses of $7.2 million, or 22¢ per share, on sales of $49.9 million for the three months ended September 30, seeing profits drop 0.2% while sales grew 18.5% compared with the same period during the previous year.

Adjusted to exclude one-time items, losses per share were 24¢, just behind the 22¢ loss-per-share consensus on The Street, where analysts were looking for sales of $48.1 million, which the company topped.

“We are pleased with our third quarter performance and building track record of strong, consistent, revenue growth. We remain confident that our focus on clinical data, education and innovation will continue to position the company for long term success,” prez & CEO Mike Carrel said in a press release.

AtriCure released updated guidance for the fiscal year 2018, expecting to post sales of between $198 million and $201 million, with net loss per share of between 69¢ and 74¢.

Shares in AtriCure rose approximately 2.3% today, closing at $32.54.

Last month, Atricure priced an offering looking to raise approximately $72 million.

The post AtriCure posts mixed bag Q3 appeared first on MassDevice.

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