Here's Why Endologix Plummeted 37% Today [The Motley Fool]
ENDOLOGIX (ELGX)
Last endologix earnings: 2/19 04:01 pm
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investor.endologix.com
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Source: The Motley Fool
Earnings guidance isn't what it used to be. Brian Orelli ( TMFBiologyFool ) Aug 10, 2018 at 6:03PM What happened Shares of Endologix ( NASDAQ:ELGX ) were down 37% on Friday after the medical device maker announced disappointing earnings at market close on Thursday. Specifically, revenue decreased 7.9% year over year due to lower U.S. sales of AFX, its endovascular system to treat abdominal aortic aneurysms, and softness in Latin America. So what The good news is that sales of Endologix's Ovation abdominal stent graft are growing in the U.S. and AFX sales are still growing in Japan. Unfortunately, it's just not enough to make up for slumping U.S. AFX sales. Image source: Getty Images. Management lowered its 2018 guidance substantially and now expects revenue in the range of $145 million to $155 million, compared to the previous range of
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