The Spectranetics Corporation (NASDAQ:SPNC) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
The Spectranetics Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.03 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 13.23% to $37.67 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Spectranetics Corporation reported adjusted EPS loss of $0.03 per share. By that measure, the company met the mean analyst estimate of $-0.03. It beat the average revenue estimate of $36.59 million.
Quoting Management: “The first quarter of 2013 reflects continued double digit revenue growth, driven by our focus areas, which are gaining momentum,” said President and Chief Executive Officer, Scott Drake. “We placed 39 lasers this quarter, more than 50% greater than a year ago. This follows a record fourth quarter of 42 laser placements, which bodes well for future revenue growth. We are steadfast in our endeavor to achieve the in-stent restenosis indication and prove clinical superiority. Treating this disease remains a large, untapped opportunity, and we are making significant strides with the EXCITE ISR study. Our long term goal is unchanged — accelerating revenue growth and margin expansion yielding meaningful leverage over time.”
Key Stats (on next page)…