TranS1 skids 26% on lowered Q2 revenue estimates

TranS1 Inc. (Nasdaq:TSON) shares skidded 26% Thursday after the Wilmington, N.C.-based medical device company announced late Wednesday it was lowering its revenue estimates for the second quarter. The company said it expects revenues for the quarter ended in June to be between $5.9 million and $6 million, down from its previous estimates of $6.3 million to $6.5 million. TranS1 lowered the revenue outlook because of a sales force turnover and the promotion of high-performing sales people to management positions, the company said.

TranS1 traded on Thursday at $10.44, down $3.81 from the previous day's close.

For detailed price information and recent news stories on TranS1 Inc., click TSON.

---