TranS1 (TSON) Cuts Q3 Sales Guidance
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TranS1 Inc. (Nasdaq: TSON) lowers its Q3 sales guidance from $7.4-$7.9 million to $6.8-$6.9 million, which compares to the Street estimate of $7.68 million.
"Our results this quarter were impacted by continuing concerns and uncertainty in the marketplace surrounding reimbursement for our AxiaLIF procedure, which we are addressing with increased education and support resources for our current and prospective surgeon users," said Rick Randall, President and CEO of TranS1. "While we are disappointed that our third quarter revenues are below previously issued guidance we remain confident in our products, clinical benefits and prospects for future growth as the market for minimally invasive spine surgery continues to expand."
The Company will provide more information when it releases its full third quarter results, which is expected to occur after the close of trading on October 29, 2009.
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