TransEnterix (TRXC) Tops Q2 EPS by 11c

TransEnterix (NYSE: TRXC) reported Q2 EPS of ($0.27), $0.11 better than the analyst estimate of ($0.38). Revenue for the quarter came in at $655 thousand versus the consensus estimate of $420 thousand.

“Despite operating in a challenging environment throughout the second quarter, we made significant progress towards our goals for the year, which include increasing system installations, increasing procedure volumes globally, and continuing to gain regulatory approvals for new technologies and expanding indications for use for the Senhance,” said Anthony Fernando, President, and CEO of TransEnterix. “Leveraging the momentum we generated in the first quarter, we were able to sign two new system leases in the quarter while at the same time maintaining the quality of our pipeline. Additionally, we made progress against our portfolio expansion and clinical validation efforts. While procedure volumes were down in the quarter, we saw a strong rebound from April to June which has continued into July. We continue to believe we are well-positioned to deliver on our strategy and bring transformative technology to surgeons, hospitals, and patients globally.”

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

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