The Eden Prairie, Minn.-based blood management technology developer posted losses of -$4.3 million, or -$2.08 per share, on sales of $1.9 million for the three months ended Sept. 30, 2020, for a minor bottom-line slide on sales growth of 52.1%.
Adjusted to exclude one-time items, earnings per share were also $2.08, 82¢ behind Wall Street, where analysts were looking for sales of $1.3 million.
Revenue growth in the quarter for CHF Solutions was driven by increased utilization of its products by pediatric accounts, as the company added six new pediatric accounts, too.
“CHF Solutions achieved very solid performance in the third quarter, most notably within pediatric accounts,” CHF Solutions chairman & CEO John Erb said in a news release. “The pediatric opportunity is growing, as more children’s hospitals acquire our Aquadex SmartFlow product and complete training. In the third quarter, we had twelve children’s hospitals purchase product, reinforcing our strategic focus in this area.”
CHF Solutions did not offer financial guidance for the full year 2020 or for fiscal 2021, either.
CHFS shares were down -5.7% at $6.16 per share in late-afternoon trading today.