The San Clemente, Calif.-based company posted profits of $134,000 on sales of $33.2 million for the 3 months ended Dec. 31, with the bottom-line swinging from a loss of $2.3 million last year during the same quarter while sales grew 63.6%.
The company posted no earnings for the quarter, which beat Wall Street’s consensus, which expected losses of 1¢ and revenue of $29.4 million.
For the full year, Glaukos posted profits of $4.5 million, or 12¢ per share, on sales of $114.4 million, swinging from bottom-line losses of $38.3 million last year while sales grew 59.5%.
“Continued robust demand for our flagship iStent Trabecular Micro-Bypass Stent fueled our net sales to new highs in the fourth quarter and full year of 2016. An increasing number of surgeons are adopting the iStent for its well-documented ability to achieve sustained intraocular pressure reduction in a procedure with a favorable safety profile. As we move into 2017, we remain focused on fortifying our leadership position in the burgeoning Micro-Invasive Glaucoma Surgery market by driving increased iStent utilization, expanding in targeted international markets and advancing regulatory approval of our next-generation micro-scale stents and drug-delivery implants,” prez & CEO Thomas Burns said in a press release.
Glaukos released sales guidance for the upcoming year, expecting to bring in between $160 and $165 million for the upcoming year.
Shares in Glaukos have risen in response today, closing up 4.2% at $47.70.