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Invuity reports 1Q loss

SAN FRANCISCO (AP) _ Invuity Inc. (IVTY) on Wednesday reported a loss of $13.2 million in its first quarter.

The San Francisco-based company said it had a loss of 78 cents per share. Losses, adjusted to extinguish debt, were 64 cents per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 61 cents per share.

The medical technology company posted revenue of $9 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $8.7 million.

Invuity expects full-year revenue in the range of $42 million to $44 million.

Invuity shares have risen 50 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.60, an increase of 24 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IVTY at https://www.zacks.com/ap/IVTY


Keywords: Invuity, Earnings Report