Novadaq Technologies (NVDQ) Misses Q1 EPS by 11c

Novadaq Technologies (NASDAQ: NVDQ) reported Q1 EPS of ($0.20), $0.11 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $11.7 million versus the consensus estimate of $13.1 million.

"While we more than doubled the size of our sales team over the course of the past six months, we didn't have adequate sales coverage early enough in Q1 to maintain overall SPY Elite kit sales volumes," said Arun Menawat, NOVADAQ's President and Chief Executive Officer. "That said, starting from a relatively weak January, SPY Elite kit sales volumes trended up throughout the rest of the first quarter and that positive momentum has thus far continued into Q2."

For earnings history and earnings-related data on Novadaq Technologies (NVDQ) click here.

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