Glaukos (NYSE:GKOS) posted first-quarter results that beat the overall consensus on Wall Street.
The San Clemente, Calif.-based ophthalmic medical technology company yesterday reported losses of -$16.469 million, or -36¢ per share, on sales of $67.968 million for the three months ended March 31, for a sales growth of 22.83% compared with Q1 2020.
Adjusted to exclude one-time items, earnings per share were -21¢, 10¢ ahead of The Street, where analysts were looking for sales of $65.07 million.
“Our strong start to the year reflects our teams’ unwavering commitment to advance our key strategic priorities and execute our plans,” president and CEO Thomas Burns said in a news release. “While we recognize uncertainties associated with COVID-19 may persist, I am encouraged by the continued recovery trends and believe our business prospects remain robust as we advance our mission to transform the treatment of chronic eye diseases for the benefit of patients worldwide.”
Glaukos expects second-quarter net sales to be in the range of $70 million to $72 million.
Investors reacted by sending GKOS shares down nearly –8% to $83.47 apiece in morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly.