Shares in Glaukos (NYSE:GKOS) have fallen today after the ophthalmological device maker topped Wall Street sales consensus but missed on loss-per-share expectations with its second quarter earnings results.
The San Clemente, Calif.-based company posted losses of $5.4 million, or 15¢ per share, on sales of $43.2 million for the three months ended June 30, seeing losses grow 63.5% while sales grew 4.5% compared with the same period during the previous year.
Losses per share were just behind the 12¢ consensus on Wall Street, where analysts expected too see sales of $40.5 million, which the company topped.
“We are very pleased with the company’s continued solid execution through the second quarter, both in the U.S. and international markets, which allowed us to raise our 2018 revenue guidance. In addition to achieving record quarterly revenue in the second quarter, we also accomplished a pivotal milestone with U.S. FDA approval of the iStent inject Trabecular micro-bypass system, our next-generation trabecular micro-bypass device. Trained surgeons have already successfully completed several initial iStent inject procedures and we are excited to commence full commercial launch activities later this month. iStent inject not only represents a compelling new treatment option for U.S. ophthalmic surgeons and their patients, but also further strengthens our leadership position in the growing micro-invasive glaucoma surgery market,” prez & CEO Thomas Burns said in a press release.
The company lifted its revenue guidance for the full year, expecting to see sales of between $162 million and $166 million, up from previous guidance of between $160 million and $165 million.
Shares in Glaukos have fallen 6.3% so far today, at $42.19 as of 1:11 p.m. EDT.
In May, Shares in Glaukos fell after the ophthalmic medical tech company posted first quarter earnings that saw profits swing to losses, despite topping The Street’s expectations.
