AtriCure boosted its revenue expectations for the full year, now projecting sales in the range of $103-$105 million, compared to previous estimates in the range of $101-$104 million. The company maintained its bottom-line expectations, predicting losses in the range of $9-$10 million.
The news sent ATRC shares up 4% to $16.54 as of about 3:15 p.m. today. The stock has dropped 0.2% over the last 3 months.
In total AtriCure reported losses of $2.7 million, or 10¢ per share, on sales of $26.5 million during the 3 months ended June 30. That compared with losses of $1.8 million, or 9¢ per share, on sales of $20.4 million during the same period last year.
The company also provided some updates on its ongoing integration with Estech, an ablation devices company that AtriCure acquired early this year for about $34 million. AtriCure leadership expects the acquisition to be dilutive to earnings this year, but it should begin adding to the bottom line in 2015.