PolarityTE Inc. Q1 Losses Rise, Misses Estimates

(RTTNews) – PolarityTE Inc. (PTE) reported a first-quarter loss that narrowed from a year ago but missed Street’s estimates.

The company’s net income totaled -$3.77 million, or -$0.09 per share. That compares to -$17.41 million, or -$0.24 per share, in the first quarter of last year.

Excluding items, PolarityTE Inc. reported adjusted earnings of -$8.88 million or -$0.10 per share for the period.

Analysts on average had expected the company to earn -$0.08 per share, according to figures compiled by Thomson Reuters. Analyst estimates generally exclude special items.

The company’s revenue for the quarter fell 84.3% to $0.74 million from $4.71 million a year ago.

PolarityTE Inc. Earnings at a Glance (GAAP):

– Earnings (Q1): -$3.77 million. versus -$17.41 million. Last year. -EPS (Q1): -$0.09 vs. -$0.24 last year. – Analyst estimates: -$0.08 – Revenue (Q1): $0.74 million vs. $4.71 million last year.

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