Cardica Posts Narrower 4Q Loss, But Sales Fall
For the full year, Cardica narrowed its loss to $17.2 million, or $1.09 per share, from a loss of $18.2 million, or $1.23 per share. Its revenue rose 31 percent to $9.9 million from $7.6 million. The company recorded $700,000 in restructuring costs in fiscal 2009.
Cardica said it cannot give product revenue guidance for fiscal 2010 because it is changing its cardiac surgery business to a direct sales force, which will be supported by distributors and representatives of manufacturers. It expects a total of $11 million to $13 million in research and development, and sales, general and administrative spending. It also forecast $1 million in stock-based compensation costs.
On average, analysts expect the company to report $15 million in revenue, and lose 70 cents per share.
In aftermarket trading, Cardica stock dropped 55 cents, or 25.9 percent, to $1.57. In the regular session, the shares closed at $2.12.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV