leadf
logo-loader
viewTransEnterix Inc.

TransEnterix posts bigger 2Q loss although revenue tops expectation

Shares of TransEnterix tumbled following a bigger-than-expected earnings miss

surgery
US seeing higher adoption of robotic surgery systems

TransEnterix Inc (NYSEAMERICAN:TRXC) reported a wider-than-expected earnings loss in the second quarter although revenue exceeded estimates, with shares sliding in premarket trade Tuesday.

TransEnterix posted a net loss of US$0.17 per share, sharply worse than expectations for a loss of just US$0.06. in the same period a year ago it posted a loss of US$0.11. Quarterly revenue came in at US$6.4mln, above the consensus of US$5.78mln and the year-ago figure of US$1.58mln.

Shares sank 10.7% to US$4.81 in premarket trade and were seen down 6.31% at US$5.05 on Tuesday. On Monday, TransEnterix shares climbed 3.1% to US$5.39. Shares have added nearly tripled since the start of 2018, compared with a 6.6% gain in the S&P 500.

READ: TransEnterix shares pop after FDA approves its robotic surgery system for more procedures

The company said it expects wider use of its Senhance robotic surgery system for use in a variety of surgical procedures such as laparoscopic gynecology or gall bladder removal, colorectal, and inguinal hernia among others. Clearance from the FDA for its surgical system would double annual procedures in the US to more than 3 million, it added.

The Senhance system can be used for some of the most common abdominal surgeries, including procedures in general surgery and gynecology.

Based in Morrisville, North Carolina, TransEnterix is a medical device that seeks to improve procedures for minimally invasive surgery.

-- Updates share price

 

 

 

 

 

Quick facts: TransEnterix Inc.

Price: 0.3624 USD

NYSE:TRXC
Market: NYSE
Market Cap: $36.2 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Thunderbird Entertainment releases fall slate of shows on streaming services...

Thunderbird Entertainment Group (CVE: TBRD-OTC: THBRF) CEO Jennifer Twiner McCarron joined Steve Darling from Proactive Vancouver with news the company has released their fall slate of shows. The company will have 7 new and returning show including animated, scripted, and factual. Twiner...

9 hours, 43 minutes ago

2 min read