Penumbra (NYSE:PEN) posted fourth-quarter results that beat the consensus forecast on Wall Street.
The Alameda, Calif.-based company reported profits of $2.6 million, or 10¢ per share, on sales of $166.9 million for the three months ended Dec. 31, 2020, for a bottom-line loss of 071.7% sales growth of 14.89% compared with Q4 2019.
Adjusted to exclude one-time items, earnings per share were 42¢, 48¢ ahead of The Street, where analysts were looking for sales of $159.7 million.
The company issued a voluntary recall of the Jet 7 Xtra Flex catheter on Dec. 15 and it was designated as Class I on Jan. 29. Penumbra also appointed a new chief financial officer and chief accounting officer during its fourth quarter. It also launched a study of its Indigo blood clot aspiration device.
Penumbra expects to log a total revenue of $675 million to $685 million in 2021 to represent growth of 20% to 22% over the 2020 full-year revenue.
Shares in PEN were up 3.35% to $290 apiece in pre-market trading.