Starting with SurVeil, we remain acutely aware of the current uncertainty surrounding paclitaxel-coated devices and the potential impact on patients and the future of the therapeutic modality, including our own paclitaxel-coated balloon applications. These offerings provide significant and ongoing return on invested capital and cash flow which fuels our strategic growth initiatives. As a reminder, these are, first, to ensure the success of SurVeil, specifically to complete patient enrollment in the TRANSCEND study and to make substantial progress toward achieving the CE Mark second, to continue to make meaningful advances within our DCB pipeline and our non-drug delivery device portfolio, including the acceleration of our thrombectomy platform development and finally, to continue to drive revenue growth and cash flow from our existing medical device coatings and IVD offering. As we finish the final quarter of fiscal 2019, we are confident that both our medical device and IVD businesses will generate quarterly top-line growth, and we will continue to execute on our three major strategic objectives for fiscal 2019. We also reported diluted GAAP earnings of $0.11 per share, non-GAAP earnings of $0.15 per share.Īs a result of our continued strong performance, we are raising our full-year revenue and earnings guidance for fiscal 2019 as Tim will discuss later. This included $2 million of revenue from our SurVeil agreement with Abbott. In the third quarter, we generated revenue of $24.3 million, growing 9% over the third quarter of 2018. I'm confident that we are positioned for sustainable growth as we continue to make progress on the transformation of Surmodics into a provider of unique products that improve patient outcomes, safety and healthcare economics. Our team continues to deliver consistent revenue growth driven by our medical device business unit. We advanced our AVess and Sundance drug-coated balloon programs and made important progress on our radial and thrombectomy device technology platforms. Our third-quarter results demonstrated continued strong commercial and operational execution marked by our ability to simultaneously produce strong organic revenue growth and to make progress toward our key strategic initiatives.ĭuring the third quarter, we made excellent progress in the enrollment of our trends and trial. The good results you will now hear about are because of their grit. In fact, they have double down, adapted and overcome the challenges that are within our control. Even as we've been dealing with some unpredictably choppy waters, our team has not been fazed. First, I'd like to give a big shout-out to our team at Surmodics. Good afternoon, and thank you for joining us. Gary Maharaj - President and Chief Executive Officer I will now turn the call over to Gary Maharaj. A press release disclosing our quarterly results was issued earlier this afternoon and is available on our website at. This conference call is being webcast and is accessible through the Investor Relations section of the Surmodics website, where the audio recording of the webcast will also be archived for future reference. The $16,728 Social Security Bonus You Cannot Afford to MissĢ0 of the Top Stocks to Buy (Including the Two Every Investor Should Own) Today's news release contains a reconciliation table to our GAAP results. We'll also refer to non-GAAP measures because we believe they provide useful information for our investors.
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Surmodics disclaims any duty to update or revise our forward-looking statements as a result of new information, future events, developments or otherwise. Please be advised that actual results could differ materially from those stated or implied by our forward-looking statements, resulting from certain risks and uncertainties, including those described in our SEC filings. These forward-looking statements are covered under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include statements regarding Surmodics' future financial and operating results or other statements that are not historical facts. Before we begin, I would like to remind you that during this call we will be making forward-looking statements. Good afternoon, and welcome to Surmodics fiscal-2019 third-quarter earnings call. Tim Arens - Vice President of Finance and Chief Financial Officer At this time, I would like to turn the conference over to Tim Arens, vice president of finance and chief financial officer. Good day, and welcome to the Surmodics third-quarter fiscal-2019 earnings conference call.
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