For the second quarter Novadeq reported a loss of -8 cents a share, missing the Capital IQ Consensus Estimate of -5 cents a share by 3 cents. Revenue grew 41.5% to $10.3 million in the quarter, compared to analysts' expectations of $10.33 million.
"NOVADAQ's performance is increasingly being driven by our direct products, PINPOINT and LUNA as more of our early evaluation sites are becoming commercial customers," president and CEO Dr. Arun Menawat said in a press release. "With last month's introduction of the newest generation PINPOINT at SAGES, our sales team is now able to offer a system that supports all of our surgeon's traditional laparoscopic needs in addition to providing PINPOINT fluorescence imaging of critical physiologic processes and anatomical structures."
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TheStreet Ratings team rates NOVADAQ TECHNOLOGIES INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NOVADAQ TECHNOLOGIES INC (NVDQ) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income and weak operating cash flow."