Endologix expects 2Q revenue to top Street's view

Associated Press

IRVINE, Calif. (AP) -- Endologix said Monday that it expects second-quarter revenue to beat Wall Street's view and raised its full-year revenue forecast.

The company, which develops treatments for aortic disorders, anticipates revenue of about $34 million.

Analysts polled by FactSet predict $31.2 million in revenue for the period ended June 30.

Shares of Endologix Inc. rose 69 cents, or 5.2 percent, to $13.97 in afternoon trading. Over the last year, the stock has traded in a range of $11.15 to $16.39.

Endologix expects about $26.3 million in second-quarter U.S. revenue and around $7.6 million in international revenue.

Going forward, the Irvine, Calif. company now sees full-year revenue of $128 million to $134 million. Its prior forecast was $126 million to $133 million.

Wall Street estimates $130.1 million.

Endologix now expects a 2013 adjusted loss of 18 to 22 cents per share. Previously it predicted a loss of 14 to 17 cents per share. Analysts estimate a loss of 15 cents per share.

In addition, the company said that it does not expect to resume enrollment in the Ventana stent clinical trial or to start the limited market introduction of Ventana in Europe before year's end. In April Endologix announced plans to temporarily suspend enrollment in the Ventana trial and to delay limited market introduction of Ventana in Europe.