Cardiovascular Systems Q1 Loss Widens, But Results Beat View - Quick Facts

(RTTNews) - Cardiovascular Systems Inc. (CSII) reported first-quarter net loss that widened to $8.22 million from $7.29 million in the prior-year quarter. However, loss per share narrowed to $0.26 from $0.29 in the year-ago period on higher number of weighted average common shares outstanding.

On average, nine analysts polled by Thomson Reuters expected the company to report loss of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter grew 39 percent to $41.35 million from $29.77 million in the year-ago period. Analysts had a consensus revenue estimate of $40.24 million.

For the second quarter, the company forecasts net loss in a range of $11.0 million to $12.0 million, or loss per share of $0.35 to $0.38. The company also projects revenue growth of 33 percent to 39 percent over the prior-year period, in a range of $43.1 million to $44.8 million.

Street expects the company to report loss of $0.28 per share for the quarter on revenues of $43.16 million.