Second Sight Medical (EYES) Tops Q2 EPS by 3c

Second Sight Medical (NASDAQ: EYES) reported Q2 EPS of ($0.12), $0.03 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $2.2 million versus the consensus estimate of $1.43 million.

• Generated net sales of $2.2 million in the second quarter of 2017 compared to $1.0 million in the second quarter of 2016;
• Increased implant volume to 19 Argus® II Retinal Prosthesis Systems (Argus II) during the second quarter of 2017, compared to 14 in the first quarter of 2017 and 11 in the second quarter of 2016;
• Submitted an Investigational Device Exemption (IDE) application to the FDA in mid-July seeking approval to conduct a feasibility study of the Orion™ Visual Cortical Prosthesis System (Orion) treating up to five human subjects;
• Expanded U.S. reimbursement coverage with the decision by Novitas authorizing coverage for medically necessary Argus II outpatient procedures. Novitas is the largest Medicare Administrative Contractor (MAC) in the U.S. with jurisdictions in 11 states and the District of Columbia, representing almost 80 million people;
• Performed the first Argus II implant at a center in Boston, Massachusetts, which represents our first Center of Excellence in the Northeastern U.S.; and,
• Continued the expansion of our global footprint with market entry into South Korea and Russia in the second quarter of 2017.

For earnings history and earnings-related data on Second Sight Medical (EYES) click here.

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