TearLab (TEAR) Misses Q3 EPS by 3c, Miss on Revenues

TearLab (: TEAR) reported Q3 EPS of ($0.67), $0.03 worse than the analyst estimate of ($0.64). Revenue for the quarter came in at $6.52 million versus the consensus estimate of $7.07 million.

Third Quarter 2017 and Recent Operational Highlights

• Announced updated U.S. regulatory strategy for TearLab Discovery™ System; Company remains on-track to submit 510(k) application to FDA by year-end
• Expanded the active U.S. user base of TearLab Osmolarity Systems in key programs by 74 units to 4,522 devices
• Further reduction in operating expenses; operating loss improved 6.9% compared to 3Q 2016
• Amended loan agreement with CRG to lower the minimum revenue levels for years 2017 through 2019
• Cash position of $7.7 million as of September 30, 2017

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

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