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Jun 30, 2021
Surmodics Q3 2021 Earnings Report
Reported a decrease in revenue due to lower sales in both the Medical Device and In Vitro Diagnostics segments, while also experiencing a net loss.
Key Takeaways
Surmodics reported a decrease in revenue for Q3 2021, with a net loss incurred during the quarter. The company experienced lower sales in both its Medical Device and In Vitro Diagnostics segments.
Total revenue decreased by 12% to $22.4 million compared to the prior-year period.
Medical Device revenue decreased 15% to $15.9 million.
In Vitro Diagnostics revenue decreased 3% to $6.5 million.
Net loss was $2.4 million, or $0.18 per diluted share, compared to a net income of $0.3 million, or $0.02 per diluted share, in the prior-year period.
Revenue by Segment
Forward Guidance
Surmodics anticipates revenue for fiscal year 2021 to be in the range of $90 million to $92 million and expects a net loss per share between $0.79 and $0.89.
Positive Outlook
- Revenue expectations of $90 to $92 million for fiscal year 2021.
- Focus on strategic investments in key growth areas.
- Continued efforts to drive operational efficiencies.
- Ongoing product development and innovation initiatives.
- Commitment to serving the medical device and in vitro diagnostics markets.
Challenges Ahead
- Anticipated net loss per share between $0.79 and $0.89 for fiscal year 2021.
- Revenue impacted by lower sales in both Medical Device and In Vitro Diagnostics segments.
- Increased operating expenses affecting profitability.
- Uncertainties related to market conditions and competition.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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