Second-quarter losses soared for Derma Sciences (NSDQ:DSCI), but the wound care company still managed to beat Wall Street’s earnings expectations by 4¢.
Princeton, N.J.-based Derma Sciences reported losses of $7.3 million, or 43¢ per share, on sales of $18.1 million for the 3 months ended June 30. Losses grew 59.8% despite a 3.1% top-line gain, compared with Q2 2012.
Still, Derma Sciences per-share earnings beat Wall Street’s expectations by 4¢.
"During the quarter we continued to execute on both our financial goals and strategic initiatives, and I am very pleased with our results and our momentum," chairman & CEO Edward Quilty said in prepared remarks. "Our [advanced wound care] business is performing on plan, with TCC and Medihoney anchoring 36% sales growth (33% on an organic basis) of these high-margin, innovative and proprietary products. Our AWC selling organization continues to improve its segment contribution. We continue to expect the AWC segment will post sales growth of between 30% and 40% for the full year."
DSCI shares closed flat today at $14.09 apiece.
