Shares in breast implant maker Establishment Labs rose in after-hours trading today after the company posted fourth quarter and full year 2018 earnings that beat sales expectations but missed loss-per-share consensus on Wall Street.
The New York-based company posted losses of $10.5 million, or 52¢ per share, on sales of approximately $16.4 million for the three months ended December 31, seeing sales grow 38.8% while losses grew 47.4% compared with the same period during the previous year.
Losses per share were ahead of the 36¢ loss-per-share consensus on Wall Street where analysts expected to see sales of approximately $15.7 million, which the company topped.
For the full year, Establishment Labs posted losses of approximately $21.1 million, or $1.22 per share, on sales of $61.2 million, seeing losses shrink 39.5% while sales grew 76.5% compared with the previous year.
Losses per share were again behind the $1.08 loss-per-share consensus on Wall Street, where analysts expected to see sales of approximately $60.5 million, which the company topped.
“2018 was an outstanding year for Establishment Labs as we continued to execute on our strategy of bringing our Motiva Implants to more women worldwide. Our performance is the result of our clearly differentiated, innovative product portfolio and the trust physicians and patients are placing in us and our technology. With the momentum we are carrying into 2019, we should continue to deliver top line growth,” CEO Juan Chacón-Quirós said in a press release.
Shares in Establishment Labs have risen approximately 4.9% so far in after hours trading, at $29.65 as of 4:09 p.m. EDT.
Last October, Establishment Labs said that it inked a number of asset purchase agreements with distributors in Spain and Germany to repurchase stock they had previously held.
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