Penumbra (NYSE:PEN) saw its revenue jump more than 25% year-over-year in the fourth quarter, but earnings were down for the Alameda, Calif.–based maker of devices to treat neuro and peripheral vascular conditions.
Alameda, Calif.-based Penumbra’s stock is down about $15.57 per share, or 10.6%, to $131.25 as of midday trading.
The company reported yesterday evening that it earned $6.7 million, or 18 cents per share, for the quarter ended Dec. 31, down from $9.1 million, or 25 cents per share, for the same quarter a year before. Revenue was $120.8 million, up 25.8% year-over-year.
Analysts polled by Yahoo! Finance had expected fourth-quarter profits of 12 cents per share off nearly $115 million in revenue.
“In the fourth quarter, we saw our strongest sequential revenue growth of the year, which resulted in strong year over year growth against difficult fourth quarter comparisons, particularly in our neuro and international markets,” Penumbra CEO Adam Elsesser said in a news release.
“We made great progress across the business, including the launch of our peripheral embolization products into new international markets, which resulted in a shift of revenue from neuro to vascular in the fourth quarter.”
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