TransEnterix (TRXC) Misses Q4 EPS by 1c, Revenues Beat

TransEnterix (NYSE: TRXC) reported Q4 EPS of ($0.07), $0.01 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $7.5 million versus the consensus estimate of $7.35 million.

• Sold five Senhance Systems globally in the fourth quarter in 2018
• Total revenue of $7.5 million in the fourth quarter of 2018
• Received U.S. FDA clearance for Senhance Ultrasonic System subsequent to the end of the 2018 fourth quarter
• Received U.S. FDA clearance for 3mm diameter instruments
• Received CE Mark for articulating instruments and submitted its application for U.S. FDA 510(k) clearance during the fourth quarter
• Received Taiwanese FDA approval for the Senhance System instruments in the fourth quarter of 2018
• Closed acquisition of substantially all of the assets of MST Medical Surgery Technologies Ltd., an Israel-based medical technology company

“2018 was a transformative year for TransEnterix, as we continued to drive the global commercial adoption of the Senhance System - both in terms of expanding our installed base as well as expanding the applicability of the Senhance System by increasing its indications for use, expanding the variety of instruments available with the Senhance System, and expanding into new geographies by receiving additional regulatory clearances,” said Todd M. Pope, President and CEO of TransEnterix. “In 2019, we see a significant opportunity to leverage all of the progress we made in 2018 to continue to grow the adoption of the Senhance System globally.”

For earnings history and earnings-related data on TransEnterix (TRXC) click here.

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