Tornier Earnings: Here’s Why Investors are Ambivalent Now
Tornier N.V. (NASDAQ:TRNX) 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.
Tornier N.V. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.28 in the quarter versus EPS of $-0.13 in the year-earlier quarter.
Revenue: Rose 18.32% to $78.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tornier N.V. reported adjusted EPS loss of $0.28 per share. By that measure, the company missed the mean analyst estimate of $-0.14. It beat the average revenue estimate of $77.2 million.
Quoting Management: Dave Mowry, President and Chief Executive Officer of Tornier, commented, “We are very pleased with the revenue growth acceleration of our upper extremity product category in the second quarter, which was aided by the successful early launch of the Ascend Flex shoulder product. Recently, we launched the first OrthoHelix product in international markets and are very excited about the opportunity for further global footprint expansion for our lower extremities category. We also made significant progress transitioning our domestic field sales organization to representatives that are dedicated to either the upper or lower extremity product categories.”
Key Stats (on next page)…