The Spectranetics Earnings: Here’s Why Investors are Excited Now

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. Shares are up 2.44%.

The Spectranetics Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.02 in the year-earlier quarter.

Revenue: Rose 12.73% to $39.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: The Spectranetics Corporation reported adjusted EPS loss of $0.02 per share. By that measure, the company met the mean analyst estimate of $-0.02. It beat the average revenue estimate of $38.69 million.

Quoting Management: “The second quarter of 2013 reflects consistent double digit revenue growth, driven by our focus areas,” said President and Chief Executive Officer, Scott Drake. “We placed 48 lasers this quarter, surpassing our previous record from the fourth quarter 2012 of 42 laser placements, which bodes well for future revenue growth. We have improved enrollment in EXCITE ISR, with 184 patients currently enrolled, bringing us closer to our goal of achieving the in-stent restenosis indication and proving clinical superiority. Our long term objective is unchanged – accelerating revenue growth and gross margin expansion yielding meaningful operating leverage over time.”

Key Stats (on next page)…

Revenue increased 4.83% from $37.68 million in the previous quarter. EPS increased to $-0.02 in the quarter versus EPS of $-0.03 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.01 and has not changed. For the current year, the average estimate has moved down from a profit of $0.01 to a loss of $0.01 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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