The West Chester, Ohio-based atrial fibrillation device maker reported losses of $1.8 million, or -9¢ per share, on sales of $20.4 million for the 3 months ended June 30. That’s a 12% top-line gain and penny above analysts’ loss expectations.
AtriCure said it posted double-digit revenue growth during both the 1st and 2nd quarters and raised its guidance to reflect a more confident view of 2013. Full-year sales are now pegged to be between $77 million and $78.5 million, up 10%-12% over 2012.
Gross profits were $15 million, although AtriCure said it spent almost $14 million to beef up its sales force and on other administrative expenses.
"Our 2nd-quarter results reflect our 2nd consecutive quarter of double-digit revenue growth, driven by overall strength and, notably, our U.S. business which was up 15% in the quarter. We are starting to see the results of our training and education efforts in capturing market share," CEO Mike Carrel said in prepared remarks.
ATRC shares were trading at $9.89 each as of about 12:40 p.m. today, up 0.9%.