PRINCETON, N.J. (AP) -- Derma Sciences Inc. reported a bigger loss in the first quarter on increased marketing and clinical trial costs.
The company said that sales of traditional and advanced wound care products each improved, boosting its overall sales. But the company also spent more money to promote its advanced wound care products, and research costs grew because it started treating patients in two late-stage trials of a treatment for diabetic foot ulcers.
Derma Sciences said that it lost $6.3 million, or 38 cents per share, after taking a loss of $2.5 million, or 24 cents per share, a year ago. Revenue rose to $18.8 million from $15.3 million.
Analysts were expecting a loss of 37 cents per share and $19 million in revenue, according to FactSet.
Shares of Derma Science lost 38 cents, or 2.6 percent, to $14.40 in midday trading Thursday. Its shares are still near the high end of their 52-week range of $8.80 to $14.92.