Published on August 4th, 2020 📆 | 1573 Views ⚑0
Tactile Systems Technology: 2Q Earnings Snapshot
MINNEAPOLIS (AP) _ Tactile Systems Technology Inc. (TCMD) on Monday reported a second-quarter loss of $13.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Minneapolis-based company said it had a loss of 72 cents. Losses, adjusted for pretax expenses and asset impairment costs, were 21 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The medical device maker posted revenue of $35.1 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $37.5 million.
Tactile Systems Technology shares have fallen 36% since the beginning of the year. In the final minutes of trading on Monday, shares hit $43.28, a decrease of 23% in the last 12 months.