EndoChoice (GI) Tops Q3 EPS by 7c

EndoChoice (NYSE: GI) reported Q3 EPS of ($0.47), $0.07 better than the analyst estimate of ($0.54). Revenue for the quarter came in at $18.4 million versus the consensus estimate of $18.42 million.

Mark Gilreath, Founder and Chief Executive Officer of EndoChoice, said, "We delivered strong results in the third quarter, with total revenue up 30%, a growing Fuse installed base that surpassed 100 units, strong trends in our Pathology business and robust growth in our international territories. Fuse continues to take share from larger competitors, as physicians are increasingly recognizing the benefits of its unique 330 degree view and published data demonstrating 69% more polyps detected than standard 170 degree forward viewing scopes. During the quarter we continued to expand our sales and marketing team, with a goal of reaching 70 sales territories, up from 50, by year-end. As we expand this presence, realize the benefits of a larger installed base, and as the territory managers hired over the past four quarters ramp in productivity, we are confident our market share gains will accelerate as we move into 2016."

David Gill, Chief Financial Officer of EndoChoice, added, "We made continued progress toward profitability in the third quarter, with increased leverage across all expense categories, which declined both in absolute dollars and as a percent of revenues from the second quarter."

For earnings history and earnings-related data on EndoChoice (GI) click here.

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