Conceptus sinks 13% in pre-market on weaker-than-expected Q2 results
Conceptus Inc. (Nasdaq:CPTS) is down 13% in pre-market trading today after reporting a second-quarter net loss that missed analysts’ estimates after the close on Wednesday. For the quarter ended June 30, the Mountain View, Calif.-based company posted a net loss of $1.6 million, or $0.05 per share, compared with a net loss of $2.1 million, or $0.07 a share, for the year-ago period. Net sales were $25.7 million versus $15.7 million for the same quarter a year earlier. Wall Street was expecting a net loss of $0.04 per share on revenues of $25.1 million.
Conceptus makes the Essure permanent birth control system and said that net sales growth was because of higher international sales. Ahead of today’s opening, shares are at $17.40, up $2.53 from Wednesday’s close. During the past year, shares have ranged from $13.80 to $22.22.
Conceptus makes the Essure permanent birth control system and said that net sales growth was because of higher international sales. Ahead of today’s opening, shares are at $17.40, up $2.53 from Wednesday’s close. During the past year, shares have ranged from $13.80 to $22.22.
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