TearLab 4Q loss widens as expenses climb
TearLab 4th-quarter loss widens as operating expenses rise
SAN DIEGO (AP) -- TearLab's fourth-quarter loss widened as operating expenses rose.
Its loss was larger than Wall Street expected and its shares slipped 2 percent in morning trading Wednesday.
The San Diego company, which provides diagnostic tests for eyes, lost $3.7 million, or 13 cents per share, for the three months ended Dec. 31. That compares with a loss of $3.5 million, or 17 cents per share, a year earlier.
Analysts surveyed by FactSet expected a smaller loss of 11 cents per share.
Total operating expenses increased to $4 million from $2.8 million.
Revenue more than tripled to $1.6 million from $499,000, meeting Wall Street's expectations.
The company reported 232 system orders booked in the quarter.
For the year, TearLab Corp. lost $19.3 million, or 76 cents per share. In the previous year it lost $8.8 million, or 50 cents per share. Annual revenue nearly doubled to $4 million from $2.1 million.
Shares fell 13 cents, or 2.1 percent, to $6.20 in mid-morning trading. Over the past year, the stock has traded in a range of $2.57 to $6.61 per share.
