Corindus Vascular Robotics (CVRS) Misses Q1 EPS by 1c

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Corindus Vascular Robotics (NYSE: CVRS) reported Q1 EPS of ($0.05), $0.01 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $3 million versus the consensus estimate of $3.11 million.

“We are pleased with the positive trends in adoption and usage of our robotic technology during the first quarter of 2019. The eleven purchase orders for the CorPath GRX System received and a record number of disposable cassettes in the quarter reflect our continued momentum. Customers are also increasingly opting for service agreements, reflecting their commitment to robotic procedures over the long-term,” said Mark Toland, President and Chief Executive Officer.

“We continue to build out our global footprint with new installations in Japan and Europe and believe the addition of CE mark for neurovascular treatment will enable us to expand our opportunities in the European markets. Ongoing demonstrations at multiple medical conferences continue to drive demand, as physicians and hospital administrators increasingly embrace the power of robotics today, with potential to overcome geographic disparities through access to life-saving interventions tomorrow. 2019 is shaping up to be an exciting year of growth for Corindus,” concluded Toland.

For earnings history and earnings-related data on Corindus Vascular Robotics (CVRS) click here.

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