MINNEAPOLIS (AP) — Tactile Systems Technology Inc. (TCMD) on Monday reported a loss of $2.3 million in its first quarter.
On a per-share basis, the Minneapolis-based company said it had a loss of 12 cents.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The medical device maker posted revenue of $42.8 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $41.6 million.
Tactile Systems Technology expects full-year revenue in the range of $215.3 million to $224.5 million.
Tactile Systems Technology shares have climbed 30% since the beginning of the year. In the final minutes of trading on Monday, shares hit $58.64, a climb of 20% in the last 12 months.