PolarityTE Inc. Q1 Loss Increases, misses estimates

(RTTNews) - PolarityTE Inc. (PTE) revealed Loss for first quarter that decreased from last year but missed the Street estimates.

The company's bottom line totaled -$3.77 million, or -$0.09 per share. This compares with -$17.41 million, or -$0.24 per share, in last year's first quarter.

Excluding items, PolarityTE Inc. reported adjusted earnings of -$8.88 million or -$0.10 per share for the period.

Analysts on average had expected the company to earn -$0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 84.3% to $0.74 million from $4.71 million last year.

PolarityTE Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$3.77 Mln. vs. -$17.41 Mln. last year. -EPS (Q1): -$0.09 vs. -$0.24 last year. -Analyst Estimates: -$0.08 -Revenue (Q1): $0.74 Mln vs. $4.71 Mln last year.