Shares in Glaukos (NYSE:GKOS) rose today after the ophthalmological-focused medical device maker posted fourth quarter and full year 2018 earnings that topped expectations on Wall Street.
The San Clemente, Calif.-based company posted profits of approximately $1.8 million, or 4¢ per share, on sales of approximately $54.1 million for the three months ended December 31, for bottom-line growth of 76.8% while sales grew 29.8% compared with the same period during the previous year.
Earnings per share were well ahead of the 13¢ loss per share consensus on Wall Street, where analysts expected to see sales of approximately $49.7 million, which the company also topped.
For the full year, Glaukos reported losses of approximately $13 million, or 37¢ per share, on sales of approximately $181.3 million, seeing losses swell from $92,000 in 2017 while sales grew 13.8% compared with the previous year.
Losses per share were still ahead of the 54¢ loss-per-share consensus on Wall Street, where analysts expected to see sales of $176.8 million, which the company also topped.
“Glaukos delivered a strong finish to an excellent 2018 that saw us bolster our market leadership position with the U.S. launch of our next-generation iStent inject Trabecular Micro-Bypass system, drive increased international commercial penetration, and make significant clinical and regulatory progress to advance our transformative pipeline. We are focused on 2019 execution as we continue to build the global MIGS market and seek to transform Glaukos into an ophthalmic pharma and device leader by pioneering powerful platforms in sustained pharmaceutical therapies, micro-scale surgical devices, and diagnostics for the much-needed benefit of patients worldwide,” prez & CEO Thomas Burns said in a press release.
The company also released revenue guidance for the 2019 year, expecting to post sales of between $220 million and $230 million.
Shares in Glaukos are up 7.6% so far today, at $73.06 as of 11:30 a.m. EST.
Last August, Glaukos inked a research & development deal with Japanese biotech D. Western Therapeutics Institute to develop an intraocular glaucoma therapy.
