SurModics (SRDX) Misses Q4 EPS by 10c, Revenues Beat

SurModics (NASDAQ: SRDX) reported Q4 EPS of ($0.18), $0.10 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $22.5 million versus the consensus estimate of $20.77 million.

Summary of Fourth Quarter and Recent Highlights

• Revenue of $22.5 million, a decrease of 27% year-over-year
• GAAP EPS of ($0.22), non-GAAP EPS of ($0.18)
• FDA clearance received for PounceTM Thrombus Retrieval System for non-surgical removal of clots from the peripheral arterial vasculature

“I am proud of the meaningful progress our team made in fiscal 2020 to advance our strategic objectives in spite of this year’s unprecedented challenges,” said Gary Maharaj, President and CEO of Surmodics, Inc. “Our team capped the year by achieving another milestone with the receipt of the 510(k) clearance for our PounceTM Thrombus Retrieval System. As we look ahead to fiscal 2021, we remain confident in our long-term outlook and the ability to accomplish our strategic initiatives to deliver durable growth.”

Fiscal 2021 Guidance

Due to the continued uncertainty surrounding the duration and magnitude of the COVID-19 pandemic, the Company will not provide financial guidance at this time.

For earnings history and earnings-related data on SurModics (SRDX) click here.

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