The South Orange, N.J.-based company reported losses of -$744,000, or -10¢ per share, on sales of $3.1 million for the three months ended Sept. 30, for a bottom-line gain of 35.3% sales growth of 79.5% compared with Q3 2018.
Earnings per share were -10¢, matching the consensus on Wall Street, where analysts were looking for sales of $3.12 million.
“Our momentum continued in Q3, our 13th consecutive quarter of year-over-year revenue growth averaging 65%,” president and CEO Daron Evans said in a news release. “Growth came from both an expansion of our base business as well as from increased outbreak support. We are pleased with the development progress of our waterborne pathogen detection system and expect to be in the field helping customers before the end of this year. We also reaffirm our recently increased full-year revenue guidance of $9.5 to $10 million.”
Investors reacted by sending NEPH shares down -3.47% to $8.35 apiece today in early trading.