Transenterix shares down on mixed-bag Q4 earnings release

Shares in TransEnterix (NYSE:TRXC) fell today after the medical device maker posted fourth quarter earnings that fell short on loss-per-share expectations but topped sales consensus on Wall Street.

The Research Triangle Park, N.C.-based company posted losses of $6.4 million, or 3¢ per share, on sales of $7.5 million for the three months ended December 31, seeing losses shrink 91.5% while sales grew 121.4% compared with the same period during the previous year.

After adjusting to exclude one-time items, losses per share were 7¢, just behind the 6¢ loss-per-share expectation on Wall Street, where analysts expected to see sales of approximately $7.4 million, which the company topped.

For the full year, Transenterix posted losses of approximately $61.8 million, or 30¢ per share, on sales of $24.1 million, seeing losses shrink 57.3% while sales grew 238.9% compared with the same period during the previous year.

Adjusted to exclude one-time items, losses per share were 24¢, just ahead of the 25¢ loss-per-share consensus on Wall Street where analysts expected to see sales of $23.9 million, which the company topped.

“2018 was a transformative year for TransEnterix, as we continued to drive the global commercial adoption of the Senhance System – both in terms of expanding our installed base as well as expanding the applicability of the Senhance System by increasing its indications for use, expanding the variety of instruments available with the Senhance System, and expanding into new geographies by receiving additional regulatory clearances. In 2019, we see a significant opportunity to leverage all of the progress we made in 2018 to continue to grow the adoption of the Senhance System globally,” prez & CEO Todd Pope said in a press release.

Shares in Transenterix have fallen approximately 12.2% so far today, at $2.80 as of 9:58 a.m. EST.

Last month, Transenterix said that it won 510(k) clearance from the FDA for its Senhance Ultrasonic instrument system, designed to operate with its Senhance robot-assisted surgery device.

The post Transenterix shares down on mixed-bag Q4 earnings release appeared first on MassDevice.

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