Glaukos (NYSE:GKOS) shares hardly shifted on third-quarter results that came in ahead of the consensus forecast.
The Aliso Viejo, California-based ophthalmic implant maker posted losses of $27.6 million in the quarter. That amounts to 58¢ per share on sales of $71.3 million for the three months ended Sept. 30, 2022.
Glaukos registered a deep bottom-line slide into the red on a sales decline of 4.6%. A $30 million payment receipt related to the company’s settlement of patent litigation with Ivantis influenced Glaukos’ income and EPS.
Adjusted to exclude one-time items, losses per share came in at 45¢. That’s 7¢ ahead of Wall Street where analysts expected sales of $67.9 million.
“Our solid third quarter performance reflects our teams’ ongoing commitment to advance our key strategic priorities and execute our plans while navigating a dynamic macro environment,” Glaukos Chair and CEO Thomas Burns said in a news release. “We are now in the midst of several exciting new product launches and continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.”
Glaukos set its full-year guidance for between $278 million and $280 million. That compares to its previous projection of $275 million to $280 million.
Shares of GKOS barely moved after the market closed at $53.41 apiece. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.3%.
