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 $-0.09 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Rose 24.93% to $29.22 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Endologix Inc. reported adjusted EPS loss of $0.09 per share. By that measure, the company missed the mean analyst estimate of $-0.03. It beat the average revenue estimate of $29.02 million.
Quoting Management: John McDermott, Endologix President and Chief Executive Officer, said, “In 2012 we achieved another year of strong revenue growth driven by continued adoption of the AFX(NYSE:R) Endovascular AAA System. Our U.S. sales team continues to gain share with existing customers while also introducing more physicians to the unique benefits of anatomical fixation. Internationally we grew 61% in 2012, led by our new direct sales and marketing team in Europe that has done a great job building the Endologix business in a short period of time. Overall, we believe we are well positioned to continue gaining market share, particularly as we begin to leverage our new product pipeline.”
Key Stats (on next page)…