Cardiovascular Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2018; Revises Earnings Guidance for the Fiscal 2019; Provides Revenue Guidance for the Third Quarter and Fourth Quarter of 2019
For the six months, the company reported net Revenue was $116,472,000 against $102,304,000 a year ago. Loss from operations was $2,584,000 against $2,027,000 a year ago. Net loss was $2,396,000 against $2,390,000 a year ago. Basic loss per share was $0.07 against $0.07 a year ago.
The company narrowed fiscal 2019 revenue expectations to a range of $243 million to $247 million from a range of $240 million to $250 million. The company profitability expectations for fiscal 2019 remain consistent with the financial guidance provided at analyst day meeting on July 31, 2018. The expected net loss equal to 1% to 2% of revenue.
The revenue range for fiscal 2019 assumes continued core domestic atherectomy revenue growth of at least 10% and at least $4.2 million from international and new products.
For the back half of fiscal 2019, the company anticipates quarterly sequential revenue growth of approximately 4% to 5% in both the third and fourth quarter of 2019.