TearLab (TEAR) Tops Q2 EPS by 7c, Beats on Revenues

TearLab (NASDAQ: TEAR) reported Q2 EPS of ($0.68), $0.07 better than the analyst estimate of ($0.75). Revenue for the quarter came in at $7 million versus the consensus estimate of $6.85 million.

Second Quarter 2017 and Recent Operational Highlights

• Achieved CE Marking of commercial version of TearLab Discovery™ System, its next-generation in-vitro diagnostics testing platform
• Commenced clinical studies and further progress toward completion of 510(k) application for U.S. regulatory clearance of TearLab Discovery™ System with submission expected second half 2017
• Increased revenue 4.7% sequentially to $7.0 million
• Expanded the U.S. active device base to approximately 4,600 TearLab Osmolarity Systems
• Further reduction in operating expenses; operating loss improved 16.7% compared to 2Q 2016
• Cash position of $10.2 million as of June 30, 2017
• Completed its review of strategic alternatives with a decision from the Company’s board of directors to execute its strategic business plan

For earnings history and earnings-related data on TearLab (TEAR) click here.

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