Cytosorbents (CTSO) Misses Q3 EPS by 8c

Cytosorbents (NASDAQ: CTSO) reported Q3 EPS of ($0.21), $0.08 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $6.1 million versus the consensus estimate of $6.66 million.

• Total Q3 2019 revenues were $6.1 million, including both product sales and grant income, an increase of approximately 6%, up from $5.7 million in Q3 2018
• Product sales for Q3 2019 were approximately $5.7 million, compared to $5.1 million for Q3 2018, an increase of approximately 12%
• Excluding the change in the Euro to dollar exchange rate from Q3 2018 to Q3 2019, CytoSorb product sales would have been approximately $239,000 higher than actually reported, or approximately $6.0 million, an increase of 18% over Q3 2018 product sales
• Blended product gross margins for Q3 2019 rose to 77%, compared to 72% for Q3 2018, and 76% from Q2 2019
• Cash and cash equivalents were approximately $16 million at the end of the quarter

For earnings history and earnings-related data on Cytosorbents (CTSO) click here.

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