Shares of Natus Medical Inc. (BABY - Get Report) tumbled 12.45% to $26.15 on Wednesday after the newborn medical device maker missed Wall Street's fourth-quarter earnings expectations and 2019 guidance.
The Pleasanton, California-based company reported a loss of $11.6 million, or 35 cents a share, compared with a loss of $7.1 million or 22 cents, a year ago. Adjusted earnings came to 43 cents a share, up from 42 cents a year ago, but missed analysts' expectations of 50 cents.
Revenue totaled $141 million, up from $131.4 million, and beat analysts' forecasts by $5.2 million.
"Record revenue during the fourth quarter 2018 was driven by strong demand across multiple product and market segments. We saw particular strength in our U.S. neurodiagnostics and international hearing assessment markets," Jonathan Kennedy, president and CEO, said in a statement. "Shipments of Otoscan during the fourth quarter more than doubled last quarter when the product was launched and we ended the year with over 180 Otoscan devices in the field. We remain very encouraged by the ramping adoption of our new digital ear scanning technology."
The Otoscan machine is a digital scanning device that maps out an infant's inner ear in order to produce new hearing aids.
For the year, the company reported a loss of $22.9 million, or 69 cents a share. Revenue totaled $530.9 million.
For the current quarter ending in April, Natus Medical said it expects earnings to range from 1 cent to 8 cents a share, and revenue in the range of $111 million to $115 million. Natus Medical said it expects full-year earnings in the range of $1.12 to $1.49 ar share, with revenue ranging from $490 million to $510 million.
The current consensus estimate is 27 cents a share on $130.05 million in revenue for the coming quarter, and $1.69 a share on $535.90 million in revenue for the current fiscal year, according to Zacks.