Endologix: 3Q Earnings Snapshot
IRVINE, Calif. (AP) _ Endologix Inc. (ELGX) on Wednesday reported a loss of $7.8 million in its third quarter.
The Irvine, California-based company said it had a loss of 40 cents per share. Losses, adjusted for non-recurring gains, came to 54 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 64 cents per share.
The medical device company posted revenue of $35.8 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $35.3 million.
For the current quarter ending in December, Endologix said it expects revenue in the range of $32.5 million to $35.5 million.
In the final minutes of trading on Wednesday, the company’s shares hit $2.65. A year ago, they were trading at $13.70.