Shares in Glaukos (NYSE:GKOS) have fallen today after the diabetes-focused medical device maker missed expectation on Wall Street with its 2nd quarter earnings results.
The San Clemente, Calif.-based company posted losses of $3.3 million, or 10¢ per share, on sales of $41.3 million for the 3 months ended June 30, seeing profits swing 241.6% into losses while sales grew 44.6% compared with the same period last year.
Losses per share were significantly off from 5¢ earnings per share expectations on Wall Street, where analysts were expecting to see revenue of $39.7 million.
“These results represent another quarter of record performance for Glaukos shareholders and reflect the continued successful execution of our growth strategy. We remain fully focused on increasing global adoption of our iStent and iStent inject Trabecular Micro Bypass Stents by growing the ranks of trained surgeons, helping them integrate the technology into their practices, and expanding the body of compelling clinical evidence that underscores the benefits of our micro-scale glaucoma technology to patients, practitioners and payors. In addition, we continue to advance our industry-leading pipeline of micro-scale innovations designed to transform glaucoma therapy,” prez & CEO Thomas Burns said in a press release.
Glaukos reaffirmed its 2017 sales guidance, expecting to post between $162 million and $167 million for the full year, up 42% to 46% over the previous year.
Shares in Glaukos have fallen 4.7% so far today, at $37.88 as of 2:46 p.m. EDT.
