Intersect ENT shares dip despite street-beating Q4 earnings

Shares in Intersect ENT (NSDQ:XENT) have fallen slightly today despite the medical device maker releasing fourth quarter and full year 2018 earnings that met consensus expectations from analysts on Wall Street.

The Menlo Park, Calif.-based company posted losses of $5 million, or 16¢ per share, on sales of approximately $32.8 million for the three months ended December 31, seeing losses grow 59.6% while sales grew 11% compared with the same period during the previous year.

Intersect ENT’s loss-per-share numbers were just in line with the 16¢ consensus on Wall Street, where analysts expected to see sales of $32.5 million, which the company topped.

For the full year, Intersect ENT posted losses of $22.9 million, or 76¢ per share, on sales of $108.5 million, seeing losses grow 40.1% while sales grew 12.6% compared with the previous fiscal years.

The company was just ahead of the 75¢ loss-per-share expectations on Wall Street, where analysts expected to see sales of $108 million, which the company also topped.

Intersect ENT released guidance for the 2019 year, expecting to post sales of between $123 million and $127 million, with first quarter sales of between $26 million and $26.5 million, according to a press release.

Shares in Intersect ENT have fallen 2.6% today, at $33.65 as of 12:57 p.m. EST.

Last December, Intersect ENT said that it enrolled the first patient in a trial of its Ascend drug-coated sinus balloon.