Apollo Endosurgery (APEN) Tops Q1 EPS by 23c, Revenues In-Line

Apollo Endosurgery (NASDAQ: APEN) reported Q1 EPS of ($0.13), $0.23 better than the analyst estimate of ($0.36). Revenue for the quarter came in at $13.21 million versus the consensus estimate of $13.21 million.

• Endo-bariatric sales, representing our core business moving forward, increased 5% from $10.3 million to $10.8 million, with ESS sales increasing 13% and IGB sales declining 5%
• On a constant currency basis, endo-bariatric sales increased 9% with ESS sales increasing 17% and IGB sales equal to the prior year
• U.S. ESS sales increased 20% year-over-year in the quarter

Todd Newton, CEO of Apollo, commented, "We were pleased with our ESS product sales growth this quarter. We are also pleased with our Sx launch progress to date. The activity and resulting new account pipeline is encouraging to us that Sx will roll out very well as the year progresses. Similarly, we think our IGB product is positioned well for a return to growth."

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

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