Alphatec (NSDQ:ATEC) this week posted fourth-quarter results that beat the revenue consensus forecast on Wall Street but missed on earnings.
The Carlsbad, Calif.-based company reported losses of $17 million, or -28¢ per share, on sales of $32.4 million for the three months ended Dec. 31, 2019, for a bottom-line sales loss of -71.4% compared with Q4 2018.
Earnings per share were -28¢, 9¢ behind The Street where analysts were looking for sales of $32 million.
“2019 was a strong year of execution,” chairman and CEO Pat Miles said in a news release. “We drove nearly 30% U.S. revenue growth by delivering on our commitments to create clinical distinction, revitalize the sales channel and compel surgeon adoption.”
“We are building on that momentum in 2020. With our recently announced agreement to acquire EOS imaging, we are significantly enhancing our ability to inform spine surgery, improve clinical decisions and drive better patient-specific outcomes. The future is exceptionally bright for the spine’s organic innovation machine.”
The company expects to log revenue between $130 million and $134 million for the fiscal year 2020.
Shares in ATEC were up 0.17% to $5.93 apiece in pre-market trading.