Intersect ENT (NSDQ:XENT) posted second-quarter results today that beat the revenue consensus on Wall Street but missed on earnings.
The Menlo Park, Calif.-based company report losses of -$223.1 million, or -71¢ per share, on sales of $9.8 million for the three months ended June 30, for a bottom-line sales loss of -63.3% compared with Q2 2019.
Adjusted to exclude one-time items, earnings per share were -65¢, 9¢ behind The Street, where analysts were looking for sales of $5.4 million.
“While well below last year, we achieved stronger than expected second-quarter revenues led by the return of sinus surgery procedures using PROPEL as the U.S. market began to overcome the challenges of the COVID-19 pandemic,” president and CEO Thomas West said.
“Our revenue performance reflected increasing momentum in the quarter with May stronger than a very soft April and June stronger than May. This momentum stemmed from the continued refinement, invest…