AvanosAvanos Medical (NYSE:AVNS) posted third-quarter revenues and earnings that finished shy of projections on Wall Street.

The Alpharetta, Georgia-based company posted losses of -$35.1 million, or -73¢ per share, on sales of $184.1 million for the three months ended Sept. 30, 2021, seeing its bottom line plummet from profits of $19.3 million this time last year on a sales decline of -0.9%.

Adjusted to exclude one-time items, earnings per share were 25¢, 5¢ behind Wall Street, where analysts were looking for sales of $185.3 million.

Headwinds in the company’s acute pain portfolio as a result of continued delays and postponements of elective surgical procedures affected the company’s financial results, according to a news release.

“We continue to see unevenness in the recovery across our product portfolio but are very pleased with our overall execution,” Avanos CEO Joe Woody said in the release. “We anticipate gross margin further improving into the end of the year and throughout 2022, which combined with our continued spending discipline, will enhance our profitability measures meaningfully.”

Avanos said it expects to log adjusted EPS for the full year ranging between $1.10 and $1.20 per share.

AVNS shares were virtually unmoved in midday trading at $31.93 per share. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.3%.