Shares in AtriCure (NSDQ:ATRC) are steady in after hours trading today after the medical device maker posted first quarter earnings for 2019 that beat expectations on Wall Street.
The Mason, Ohio-based company posted losses of approximately $5.6 million, or 15¢ per share, on sales of approximately $54 million for the three months ended March 31, seeing losses shrink 44.4% while sales grew 14.8% when compared to the same period during the previous year.
Adjusted to exclude one-time items, losses per share were 20¢, just ahead of the 24¢ consensus on Wall Street where analysts expected to see sales of approximately $52.5 million, which the company topped.
“We had a good start to the year fueled by solid performance across our business in the first quarter. With outstanding appendage management performance, combined with the CryoSphere probe launch for peripheral nerve block, and the vast under-penetration of concomitant ablation in all types of major cardiac surgery, we remain confident that we are well positioned for consistently strong performance,” prez & CEO Mike Carrel said in a press release.
The company updated its sales guidance for 2019, saying it now expects to post revenue between $222 million and $228 million, representing growth of 10% to 13% for the year.
Shares in AtriCure closed up approximately 0.8% today, at $28.17, and have not yet moved in after hours trading.
Earlier this week, AtriCure said that it restarted enrollment in its DEEP clinical trial, touting that the first newly added patient in the trial has already been treated.
