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Home » Penumbra beats The Street in Q4 results

Penumbra beats The Street in Q4 results

February 24, 2021 By Danielle Kirsh

penumbra-logoPenumbra (NYSE:PEN) posted fourth-quarter results that beat the consensus forecast on Wall Street.

The Alameda, Calif.-based company reported profits of $2.6 million, or 10¢ per share, on sales of $166.9 million for the three months ended Dec. 31, 2020, for a bottom-line loss of 071.7% sales growth of 14.89% compared with Q4 2019.

Adjusted to exclude one-time items, earnings per share were 42¢, 48¢ ahead of The Street, where analysts were looking for sales of $159.7 million.

The company issued a voluntary recall of the Jet 7 Xtra Flex catheter on Dec. 15 and it was designated as Class I on Jan. 29. Penumbra also appointed a new chief financial officer and chief accounting officer during its fourth quarter. It also launched a study of its Indigo blood clot aspiration device.

Penumbra expects to log a total revenue of $675 million to $685 million in 2021 to represent growth of 20% to 22% over the 2020 full-year revenue.

Shares in PEN were up 3.35% to $290 apiece in pre-market trading.

Filed Under: Business/Financial News, MassDevice Earnings Roundup, Wall Street Beat Tagged With: Penumbra

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About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

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