Sientra (SIEN) Misses Q3 EPS by 5c, Slight Beat on Revenues

Sientra (NASDAQ: SIEN) reported Q3 EPS of ($0.72), $0.05 worse than the analyst estimate of ($0.67). Revenue for the quarter came in at $16.88 million versus the consensus estimate of $16.66 million.

Jeff Nugent, Chairman and Chief Executive Officer of Sientra, commented, “In the third quarter, we continued to build momentum across the business, achieving a combined pro forma sales growth of 58% compared to the third quarter 2017. Our solid performance was driven by both segments with 13% year-over-year growth for Breast Products and another record quarter for miraDry with 174% year-over-year growth on a pro forma basis. As is relates to miraDry, we believe that targeted investments in our salesforce, brand awareness and product development initiatives, along with a large addressable market, will further enable significant segment growth going forward.”

Mr. Nugent continued, “We are also advancing our strategic objectives designed to position the Breast Products segment to recapture and grow our market share. As we ramp our implant manufacturing at Vesta, we remain confident in our ability to deliver robust organic growth within the segment as we continue to build supply in the quarters ahead.”

Mr. Nugent concluded, “During the third quarter, we also submitted our breast implant Medical Device License Application to Health Canada with an objective to launch breast implant and tissue expanders in Canada late in 2019. This expansion represents the first step to launch our Breast Products into desirable international markets. We are excited to take our FDA-approved Breast Products with superior 10-year clinical data into strategic markets outside the United States. With our third quarter achievements, we further validated Sientra’s progress in becoming a global diversified aesthetic leader.”

For earnings history and earnings-related data on Sientra (SIEN) click here.

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