Artes Medical (ARTE) Misses Q1 EPS by 18c, Reiterates FY Revenue Oulook
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Artes Medical, Inc. (Nasdaq: ARTE) reports a Q1 loss of $0.74, 18 cents worse than the analyst estimate of ($0.56). Revenues for the quarter were $1.7 million, versus the consensus of $2.94 million.
Based on its recently expanded ArteFill direct sales force and its enhanced consumer outreach initiatives, the Company reiterates its revenue guidance of $13 million to $16 million for the 2008 calendar year. (Consensus is $17.81 million)
Based on its current cash and cash equivalents, its annual ArteFill revenue projections, its recent administrative and operating cost reductions and its current operating cost structure, the Company believes it will have sufficient financial resources through the first quarter of 2009.
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