Shares in SeaSpine Holdings (NSDQ:SPNE) are down slightly today after the medical device maker posted fourth quarter earnings there missed earnings-per-share expectations on Wall Street.
The Carlsbad, Calif.-based company posted losses of $9.5 million, or 53¢ per share, on sales of $38 million for the three months ended December 31, seeing losses grow 26.9% while sales grew 11.9% compared with the same period during the previous year.
Losses per share were behind the 42¢ loss-per-share consensus on Wall Street.
For the full year, SeaSpine reported losses of $33.5 million, or $2.18 per share, on sales of $143.4 million, seeing losses grow 4.4% while sales grew 8.8% compared with the previous year.
“During 2018, we delivered on our commitment to accelerate revenue growth, with both the U.S. spinal implants and orthobiologics portfolios increasing more than 10% in the second half of the year. Looking ahead, we are confident that we are well positioned to continue to take market share and to deliver cost effective procedural solutions to surgeons and hospitals to improve the quality of patient lives,” prez & CEO Keith Valentine said in a press release.
SeaSpine released guidance for its 2019 fiscal year, expecting to see sales of between $152 million and $156 million, reflecting growth of between 6% and 9%.
Shares in SeaSpine have dropped approximately 0.2% today, at $15.32 as of 11:31 a.m. EST.
