EOS Imaging (EPA:EOSI) shares took a dip today despite year-over-year third-quarter revenue increases.
The Paris-based orthopedic medical imaging and software technology developer posted sales growth of 3.3%, bringing in quarterly revenues of €6.4 million.
At the nine-month mark in the fiscal year, the company is reporting €16.2 million in total revenues, marking 32% growth from last year.
“We were pleased to see installs resume to a steady pace as we came out of the lockdown period,” CEO Mike Lobinsky said in a news release. “In addition, our equipment orders have rebounded in Q3, driven by the strong adoption of our new EOSedge system, representing 85% of orders in countries where we are cleared to market.
“Our cash position has also continued to improve. We believe that the company is now well-positioned to capture further growth in the coming quarters.”
EOS Imaging did not offer full-year guidance but noted that it has implemented a cost management plan to lower expenses and improve profitability amid the COVID-19 pandemic.
EOSI shares were down -2.7% at $1.37 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — stands even for the day.
