Glaukos posts Street-topping Q1 earnings

Glaukos (NYSE:GKOS) yesterday posted first quarter 2019 earnings that topped both loss per share and sales expectations on Wall Street.

The San Clemente, Calif.-based company posted losses of $1.3 million, or 4¢ per share, on sales of approximately $54 million for the three months ended March 31, seeing losses shrink 50.5% while sales grew 34.6% when compared to the same period during the previous year.

Losses per share were well ahead of the 10¢ loss-per-share consensus on Wall Street, where analysts expected to see sales of $50.2 million, which the company topped by nearly $4 million.

“Glaukos began 2019 by delivering another exceptional quarter, driven by growing U.S. adoption of our next-generation iStent inject trabecular micro-bypass system and strong commercial performance in key international markets. We also continued to make significant clinical and regulatory progress to advance our expansive and novel pipeline, with the goal of transforming Glaukos into a global ophthalmic pharmaceutical and device leader and transforming glaucoma therapy for the much-needed benefit of patients worldwide,” prez & CEO Thomas Burns said in a press release.

The company updated its 2019 net sales guidance, now expecting to post between $225 million and $230 million, tightened from previous guidance of between $220 million and $230 million.

Glaukos shares have fallen 1.8% so far today, at $72.15 as of 9:51 a.m. EDT.

In February, Glaukos saw shares rise after it posted fourth quarter and full year 2018 earnings that topped expectations on Wall Street.