AtriCure (NSDQ:ATRC) shares added more than 8% today after the medical device company reported 3r-quarter sales that beat Wall Street’s forecast and raised its outlook for the rest of the year.
AtriCure posted losses of $2.7 million, or 13¢ per share, on sales of $20.1 million for the 3 months ended Sept. 30. Although that’s a 7.1% increase in losses, it represents sales growth of 24.8%.
Analysts were looking for sales of $18.3 million for the quarter and losses of 15¢ per share.
"We are pleased with our performance in the 3rd quarter. Our results reflect our 3rd consecutive quarter of double-digit year-over-year revenue growth, driven by overall strength and our U.S. business which was up 28% versus the prior year. We are seeing the results of our training and education efforts in capturing market share, and we are gaining momentum with the AtriClip," president & CEO Mike Carrel said in prepared remarks. "Based on continued strength across all of our product lines, we are updating our outlook for 2013 to reflect anticipated revenue growth of 14% from 2012."
AtriCure said it now expects 2013 sales to reach $80.0 million, up from prior guidance of $77.0 million to $78.5 million.
The news sent ATRC shares up 8.4% to $13.50 apiece as of about 11 a.m. today.