The Eden Prairie, Minn.-based company posted losses of $4.4 million, or $1.08 per share, on sales of $1 million for the three months ended March 31, seeing losses grow 363% while sales grew by 15.1% compared with the same period during the previous year.
CHF Solutions losses-per-share were far behind the Wall Street consensus of 56¢ per share, where analysts expected to see sales of $1.7 million, which the company also missed.
“We began the year strong with continued double-digit increase in our revenues over the previous quarter and we believe we are well-poised to continue to grow in the quarters to come. We will continue to develop and refine our strategic focus toward driving revenue, which is the key metric our employees, shareholders and potential investors use to measure performance,” CEO John Erb said in a prepared statement.
Shares in CHF Solutions have dropped 9.9% so far today, at $3.21 as of 1:37 p.m. EDT.