Cytosorbents (CTSO) Tops Q1 EPS by 5c

Cytosorbents (NASDAQ: CTSO) reported Q1 EPS of ($0.05), $0.05 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $3.1 million versus the consensus estimate of $3.2 million.

• Total Q1 2017 revenues increased 72% to $3.1 million, which includes both product sales and grant income, from $1.8 million in Q1 2016
• Q1 2017 product sales were $2.6 million, an increase of $1.0 million, or 63%, compared to $1.6 million in Q1 2016, driven by record unit sales
• Product gross margins for Q1 2017 increased to 68%, compared to 62% for Q1 2016
• Trailing twelve month product sales at the end of Q1 2017 were $9.2 million, compared to $4.9 million a year ago
• In April 2017, the Company raised $11.5M in an equity offering led by Cowen & Company, netting $10.3M after fees, increasing cash to $13.5M. Another $5M in term loan debt is available to further extend our operating runway

For earnings history and earnings-related data on Cytosorbents (CTSO) click here.

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