Sensus Healthcare (NSDQ:SRTS), narrowly beat analysts’ earnings expectations for the second quarter but missed the consensus sales forecast, sending share prices down today.
Boca Raton, Fla.-based Sensus posted net losses of -$540,651, or -4¢ per share, on sales of $6.1 million for the three months ended June 30, cutting its losses by -29.2% on sales growth of 21.9% compared with Q2 2017.
Analysts on Wall Street predicted losses per share of -5¢ on sales of $6.6 million.
“During the second quarter we continued to execute very well on our business plan, once again posting double-digit year-over-year revenue growth, expanding our distribution network and making further investments in research and development, including for intraoperative radiation therapy development as well as our laser business,” chairman & CEO Joe Sardano said in prepared remarks. “The use of image-guided superficial radiation is receiving increased attention from key opinion leaders and I am very pleased with our efforts to highlight the non-invasive and efficacious attributes of SRT systems, in particular, the SRT-100 Vision, and note that we now have several multi-center dermatology practices among our customers.”
The company is seeking FDA clearance of its IORT system for breast and other cancers and hopes to launch it by the end of this year or early 2019.
SRTS shares were down -1.6% to $7.35 apiece today in mid-morning trading.
Yesterday the company said it won 510(k) clearance from the FDA for its next-generation superficial radiation therapy device, SRT-100+.