TransEnterix (TRXC) Misses Q3 EPS by 1c

TransEnterix (NYSE: TRXC) reported Q3 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $2.02 million versus the consensus estimate of $4.86 million.

Recent Highlights

• Anthony Fernando appointed President and CEO on November 8, 2019
• Total revenue of $2.0 million in the third quarter of 2019
• Amended AutoLap Asset Sale terms, the Company now expects total of $17 million
• Repaid Term Loan providing simplified balance sheet and financial flexibility
• Announced proposed reverse stock split to be voted upon at a Special Meeting of Stockholders

“I am enthusiastic to have the opportunity to lead TransEnterix and excited about the opportunity that lies ahead for the company. The Senhance System has a differentiated position in the surgical robotics market and we have assembled a great team to execute on this opportunity,” said Anthony Fernando, President and CEO of TransEnterix. “In the near term, we are focused on taking the actions needed to implement changes in our commercial strategy that I believe will drive shareholder value.”

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

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