SeaSpine (Nasdaq:SPNE) shares rose this morning on first-quarter results that were mixed compared to the consensus forecast.
The Carlsbad, California-based company posted losses of $16.6 million, or 45¢ per share, on sales of $50.7 million for the three months ended March 31, 2022, for a 30% bottom-line slide further into the red on sales growth of 20.8%.
SeaSpine’s losses per share of 45¢ came in 9¢ behind projections on Wall Street, where analysts were looking for sales of $49 million.
“We were pleased to see revenue acceleration throughout the quarter,” SeaSpine President and CEO Keith Valentine said in a news release. “Despite significant omicron headwinds throughout January, we exceeded our own internal expectations as the quarter progressed with strong results across all portfolios as hospital staffing and OR capacity quickly recovered. On the heels of recent product introductions, we gained further momentum and energy in the field among our sur…