Corindus Vascular Robotics shares dip despite Q2 beat

Shares in Corindus Vascular Robotics (NYSE:CVRS) have fallen today despite the surgical robotics developer posting 2nd quarter earnings which topped Wall Street expectations. The Waltham, Mass.-based company posted losses of $8.4 million, or 4¢ per share, on sales of $2.3 million for the 3 months ended June 30, seeing losses grow 10.8% while sales grew a massive 344.5% compared with the same period last year. Losses per share were just ahead of the 5¢ consensus on Wall Street. “Our 2nd quarter results reflect continued commercial progress. We are encouraged by our growing traction with the CorPath GRX among our hospital and clinician partners and are currently in late-stage purchase negotiations with ten hospitals. We are also in active discussions with over 60 prospective customers to generate additional system orders in 2017. We look forward to accelerating momentum in the back half of the year and remain comfortable with our 2017 revenue guidance of $13 million to $15 million,” prez & CEO Mark Toland said in a press release. Corindus updated on its guidance for the full fiscal year 2017, expecting to post sales between $13 and $15 million. Shares in Corindus Vascular Robotics have fallen 7.3% today, closing at $1.66. The post Corindus Vascular Robotics shares dip despite Q2 beat appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat Corindus Vascular Robotics Source Type: news