Ophthalmic device companies top The Street with Q4, FY2017 earnings

Ophthalmic device developers Glaukos (NYSE:GKOS) and Staar Surgical (NSDQ:STAA) this week posted fourth quarter and full fiscal year 2017 earnings that beat the streets, though only Glaukos has seen its shares rise in response. San Clemente, Calif.-based Glaukos posted profits of $1 million, or 3¢ per share, on sales of $41.7 million for the three months ended December 31, seeing the bottom-line grow 650.7% while sales grew 25.6% compared with the same period during the prior year. Earnings per share were ahead of the break-even consensus on Wall Street, where analysts were expecting to see sales of $40.7 million. For the full year, Glaukos posted losses of $92,000, or 0¢ per share, on sales of $159.3 million, seeing a 102% slide on the bottom line while sales grew 39.2% compared to the previous fiscal year. “Our fourth quarter and full year 2017 results illustrate the continuing demand for our novel iStent technologies, which offer physicians and patients a viable alternative to daily, lifelong use of topical glaucoma medications or invasive surgeries. As we move into 2018, we remain focused on strengthening our beachhead position in the combination-cataract market segment while advancing our comprehensive pipeline of next-generation surgical devices and sustained pharmaceutical therapies, which we believe will significantly expand our addressable market opportunity and facilitate our evolution into a hybrid ophthalmic medical device and pharmaceutical company,&...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat Glaukos STAAR Surgical Co Source Type: news