AtriCure (ATRC) Reports Prelim. 3Q18 Revenues Above Consensus

AtriCure, Inc. (NASDAQ: ATRC) today announced preliminary financial results for the third quarter of 2018.

Preliminary and unaudited revenue for the third quarter of 2018 is expected to be approximately $49.9 million, reflecting growth of approximately 18.5% over the third quarter of 2017 (18.6% on a constant currency basis). Based on this preliminary estimate, U.S. revenue is expected to be approximately $39.8 million, reflecting growth of 19.1% over the third quarter of 2017. International revenue is expected to be approximately $10.2 million, an increase of 16.2% as compared to the third quarter of 2017 (16.9% on a constant currency basis). Loss from operations is expected to be in the range of $6.0 million to $7.5 million for the third quarter of 2018.

“Our third quarter performance demonstrated continued strong revenue growth and operational performance driven by our Appendage Management and Open franchises. In addition to achieving revenue growth of 18.5% over the third quarter of 2017, we recently completed enrollment in the CONVERGE™ pivotal trial, surpassed the 150,000 AtriClip® milestone and benefitted from sales of our AtriClip PRO•V® and Flex•V® products, which launched in the past year,” said Mike Carrel, President and Chief Executive Officer of AtriCure.

Management intends to provide an update to 2018 guidance concurrent with the release of full third quarter 2018 financial results on the third quarter conference call, expected to be held on November 1, 2018.

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