Apollo Endosurgery (APEN) Misses Q4 EPS by 47c, Revenues Beat

Apollo Endosurgery (NASDAQ: APEN) reported Q4 EPS of ($0.84), $0.47 worse than the analyst estimate of ($0.37). Revenue for the quarter came in at $15.18 million versus the consensus estimate of $14.96 million.

• Fourth quarter ESS revenue contributed 64% of continuing product sales and increased 46%
• ESS revenue for the full year 2018 of $23.4 million increased 42% compared to 2017
• Sale of the Surgical product line completed on December 17, 2018
• New credit facility with Solar Capital completed March 15, 2019

Todd Newton, CEO of Apollo, said, "With the sale of the Surgical product line in December, moving forward we are able to direct our attention exclusively on the growth opportunities of our Endo-bariatric product line. Demand for OverStitch was strong in the fourth quarter as the treatments possible with this unique technology continue to gain physician adoption and as of the beginning of February we are into the full launch of the new single channel compatible OverStitch Sx in the United States and Europe."

For earnings history and earnings-related data on Apollo Endosurgery (APEN) click here.

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