ReShape Lifesciences Inc. (RSLS) Misses Q1 EPS by 11c

ReShape Lifesciences Inc. (NASDAQ: RSLS) reported Q1 EPS of ($0.36), $0.11 worse than the analyst estimate of ($0.25). Revenue for the quarter came in at $950 thousand versus the consensus estimate of $880 thousand.

"2018 is off to a great start for ReShape Lifesciences. Amongst our accomplishments, our team achieved record revenues and secured product approvals in markets with some of the highest obesity rates in the world," said Dan Gladney, President, Chief Executive Officer and Chairman of the Board. "I believe we are well set up for a solid year ahead with our proprietary suite of safe and effective minimally invasive technologies for the obesity continuum of care."

First Quarter 2018 Financial Results

• For the three months ended March 31, 2018, the Company reported revenues of $950,000 with gross profit totaling $121,000. The Company placed 61 vBloc units, primarily from the vBloc Now program, compared to 8 units in the first quarter of 2017.
• As of March 31, 2018, the Company had cash and cash equivalents totaling $842,000 and has no debt. This does not include the $5.1 million in net proceeds from the registered direct offering completed at the beginning of April.

For earnings history and earnings-related data on ReShape Lifesciences Inc. (RSLS) click here.

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