SurModics (SRDX) Tops Q4 EPS by 8c, Revenues Beat; FY19 EPS Mid-Point Below Consensus, FY18 Revenue Outlook Above Consensus

SurModics (NASDAQ: SRDX) reported Q4 EPS of $0.05, $0.08 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $23 million versus the consensus estimate of $21.56 million.

• Revenue of $23.0 million, an increase of 15% year-over-year
• GAAP EPS of ($0.13), non-GAAP EPS of $0.05
• Submitted application for first in-human study for arteriovenous (AV) access drug coated balloon (DCB)
• Fiscal 2019 revenue outlook of $92.0 to $97.0 million, GAAP EPS outlook of ($0.32) to ($0.02)

“We continue to drive strong revenue growth and solid operational performance as we execute on our strategic objectives,” said Gary Maharaj, President & CEO of Surmodics. “The positive twelve-month data recently presented from PREVEIL, the early feasibility study of our SurVeil® DCB and the recent submission for first in-human study for our AV access DCB, AVess™, demonstrate meaningful progress towards our whole-products solutions initiatives.”

GUIDANCE:

SurModics sees FY2019 EPS of ($0.07)-$0.23, versus the consensus of $0.23. SurModics sees FY2019 revenue of $92-97 million, versus the consensus of $90.37 million.

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

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