The New Jersey wound care company widened losses on a strong boost in sales during the 3 months ended September 30, with per-share losses well under analysts’ consensus estimates.
Quarterly losses amounted to $4.9 million, or 29¢ per share, on sales of $22.1 million, according to a company statement. That compared with losses of $3.1 million, or 24¢ per share, on sales of $19.6 million during the same period last year.
Chairman & CEO Edward Quilty called the quarter a win, saying Derma’s long-term strategy to focus on advanced wound care was paying off. Q3 advanced wound care product sales were up 33% year-over-year, while traditional wound care sales increased only 1%, according to a press release.
DSCI shares were trading at $11.88 as of about 3:30 p.m. today.