Cerus Corp (CERS) Misses Q3 EPS by 2c, Lowers FY Revenue Guidance

Cerus Corp (NASDAQ: CERS) reported Q3 EPS of ($0.15), $0.02 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $10.4 million versus the consensus estimate of $9.83 million.

“We saw increasing activity in the United States this quarter, as we initiated Expanded Access IDEs to provide INTERCEPT in response to the ongoing outbreaks of chikungunya, dengue and Ebola, as well as continuing to work with FDA on the reviews of our plasma and platelet PMAs," said William ‘Obi’ Greenman, Cerus’ president and chief executive officer. “Our $10.4 million in third quarter revenue is consistent with our expectation that sales growth would begin to accelerate as we completed certain distributor transitions. However, we have seen the Euro weaken against the US dollar which we expect will continue through the end of the year and have a negative impact on our Q4 and full-year 2014 revenue. Accordingly we are adjusting our 2014 revenue guidance to $36 million to $38 million from $38 million to $40 million."

(Street sees FY revenue of $38.14 million)

For earnings history and earnings-related data on Cerus Corp (CERS) click here.

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