Nanosphere (NSPH) Prelim. Q4 Revenue Tops Expectations

Nanosphere, Inc. (NASDAQ: NSPH), a company enhancing medicine through targeted molecular diagnostics, today reported preliminary results for the fourth quarter ended December 31, 2015.

Nanosphere achieved record preliminary revenues for the fourth quarter of 2015 of $6.8 million compared to $4.6 million in the fourth quarter of 2014. This 48% year-over-year revenue growth for the quarter ended December 31, 2015 was driven by our expanding customer base and associated infectious disease microbiology test revenue. Preliminary full year 2015 revenue of $21.0 million represents an increase of approximately 47% over full year 2014 revenue of $14.3 million, and exceeded 2015 revenue guidance of $18-20 million. The Company also reported approximately 35 new customer placements in the fourth quarter of 2015.

*** The Street sees Q4 revenue of $5.3 million and FY15 revenue of $19.7 million.

“We are pleased to report another consecutive quarter of record revenue. Our continued progress is driven by a clear focus on execution and continued adoption of our Verigene system and its expanding menu though our U.S. customer base. We believe these preliminary results validate our value proposition, competitive position in the market and represent a pivotal point in our growth as a leader in the molecular microbiology market. We look forward to providing additional financial and operating results, as well as 2016 guidance, and holding our Q4 investor call in early February,” said Michael McGarrity, Nanosphere’s president and chief executive officer.

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• T-Mobile posts mixed Q1 top and bottom line, expects more subscribers in 2024
• Oracle (ORCL) Introduces New AI Capabilities to Help Organizations Boost Sales