Intersect ENT (XENT) Misses Q1 EPS by 5c, Cuts FY Guidance

Intersect ENT (NASDAQ: XENT) reported Q1 EPS of ($0.35), $0.05 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $26.7 million versus the consensus estimate of $26.31 million.

GUIDANCE:

Intersect ENT sees FY2019 revenue of $113-117 million, versus the consensus of $125.25 million.

Intersect ENT is updating its outlook for revenue for the full year 2019 revenue to $113 to $117 million compared to prior guidance of $123 to $127 million, and for modest growth in the second quarter. The company’s outlook for 2019 gross margin remains in the range of 80% to 81%. In consideration of the change in revenue outlook, the company is reducing its outlook for operating expenses excluding stock-based expense, which are expected to be offset by incremental stock-based expense associated with the leadership transition announced May 6, 2019. Thus the company is maintaining its outlook for 2019 operating expenses in the range of $135 to $137 million.

For earnings history and earnings-related data on Intersect ENT (XENT) click here.

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