Novadaq Technologies (NVDQ) Misses Q1 EPS by 3c; Guides Revs In-Line

Novadaq Technologies (NASDAQ: NVDQ) reported Q1 EPS of ($0.24), $0.03 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $21.1 million versus the consensus estimate of $20.63 million.

• First quarter revenue of $21.1 million, an increase of 19% from the first quarter of 2016.
  • Recurring revenues in the first quarter were $10.0 million, representing a 43% year-over-year increase.
• Procedures performed using SPY technology systems during the first quarter were approximately 16,000 representing an increase of 30% year-over-year.
• Completed enrollment of the FILM trial, a study assessing the safety and utility of lymph node mapping with the PINPOINT system in patients with uterine and cervical cancers. Initial results to be presented before the end of the year.
• Introduced the SPY PHI Open Surgery Handheld Fluorescence Imaging System at the Society of American Gastrointestinal and Endoscopic Surgeons

GUIDANCE:

Novadaq Technologies sees FY2017 revenue of $98-102 million, versus the consensus of $98.7 million.

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

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