Endologix Inc. (NASDAQ:ELGX) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Endologix Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.15 in the quarter versus EPS of $-0.07 in the year-earlier quarter.
Revenue: Rose 21.53% to $29.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Endologix Inc. reported adjusted EPS loss of $0.15 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It beat the average revenue estimate of $29.2 million.
Quoting Management: John McDermott, Endologix President and Chief Executive Officer, said, “We are very pleased with our sales growth in the U.S. and international markets in the first quarter 2013, driven by continued adoption of the AFX(NYSE:R) Endovascular AAA System. In Europe, we began the limited market introduction of the Nellix(NYSE:R) EndoVascular Aneurysm Sealing System and have received very positive physician feedback on its ease-of-use and clinical outcomes from these first commercial procedures. In addition, we recently received FDA approval for our percutaneous EVAR (PEVAR) indication with AFX and have physician training courses scheduled to begin in May. After our first 120 procedures with the Ventana(NYSE:TM) Fenestrated System, we have seen good overall safety results, but a higher than expected number of renal re-interventions. Before we continue enrolling patients in the IDE clinical study and begin the EU limited introduction, we plan to integrate our next generation covered renal stent and conduct additional testing and training to optimize future outcomes. We hope to begin enrolling patients in the study again and start the limited market introduction in Europe by the end of this year.”
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