The St. Paul, Minn.–based vascular and coronary disease tech company reported a net loss of –$56,000, or 0¢ per share, on sales of $64.2 million for the three months ended Dec. 31, 2020 — versus a loss of $3.4 million, or –10¢ per share, on sales of $68.3 million for the same quarter a year ago.
Results were 6¢ ahead of The Street, where analysts were looking EPS of –6¢ on sales of $65.51 million.
“The surge in new COVID cases and increased ICU demand began negatively impacting our procedures during the final weeks of December and as a result our revenue finished slightly below the midpoint of our guidance range. Considering the unprecedented spike in hospital admissions, we are really pleased with these results and proud of our team’s focused support of our customers and patients under these extreme conditions,” Cardiovascular Systems CEO Scott Ward said in a news release.
Ward added: “We expect that our Q3 revenue of $60 to $65 million may be slightly down sequentially, but essentially in line with last year. Even though the pandemic will negatively impact our sales in Q3, we are optimistic about calendar 2021 and we expect our business to ramp sequentially throughout the year as the pandemic subsides and we leverage advancements in our core product offering, drive higher revenue per procedure and resume our international expansion plans.”