TransEnterix posts Street-beating Q3

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TransEnterix (NYSE:TRXC) today posted third quarter earnings that beat expectations on Wall Street.

The Research Triangle Park, N.C.-based company posted losses of $20.2 million, or 10¢ per share, on sales of $5.4 million for the three months ended September 30, seeing losses shrink 47.5% while sales grew nearly 3000% compared with the same period during the previous year

Adjusted to exclude one-time items, losses per share were 6¢, just ahead of the 7¢ loss-per-share consensus on Wall Street where analysts expected to see sales of $5.3 million, which TransEnterix topped.

“We are proud of the progress we made during the third quarter, as we continued to drive adoption of the Senhance System by executing on our sales and marketing strategy and continuing to develop the capabilities of the Senhance System to deliver on our vision of digital laparoscopy. We are focused on driving the global adoption of the Senhance System by increasing the applicability of the system for a wider range of surgeons, patients and geographies,” prez & CEO Todd Pope said in a press release.

Shares in TransEnterix did not move in trading today, closing at $3.39.

Earlier this month, TransEnterix completed its acquisition of Medical Surgery Technologies.

The post TransEnterix posts Street-beating Q3 appeared first on MassDevice.

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