Endologix Reports Third Quarter 2019 Financial Results
ENDOLOGIX (ELGX)
Last endologix earnings: 2/19 04:01 pm
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Source: Business Wire
Third Quarter HighlightsGlobal revenue up 2.9% versus prior yearSequential AFX system sales increase in the U.S.Operating cash burn of $4.0M for the quarter IRVINE, Calif.--(BUSINESS WIRE)--Endologix, Inc. (the “Company”) (NASDAQ: ELGX), a developer and marketer of innovative treatments for aortic disorders, today announced financial results for the third quarter ended September 30, 2019.“Our persistent focus on execution has resulted in improved performance across the business including AFX2 in the U.S., as evidenced by our third-quarter results,” commented John Onopchenko, Chief Executive Officer of Endologix, Inc. “We posted solid financial results, with the Company returning to annualized growth while effectively managing our expenses and meaningfully reducing our quarterly cash burn to less than $5 million. Our U.S. AFX volumes were up sequentially in the third quarter, and our global AFX volumes grew double digits year over year. We attribute these AFX results in the U.S. in
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