Yesterday, medical-device maker FoxHollow Technologies
FoxHollow's product revenue was ultimately unable to overcome a combination of charges relating to stock-based compensation, lease terminations, and other SG&A expenses. All those factors drove the company to report a net loss of $0.18 per share, versus a net loss of $0.01 in the prior-year quarter.
Despite several positive recent developments, FoxHollow still has a long road ahead. Management's 2007 guidance for EPS in the range of $0.00-$0.20, and revenues in the range of $205 million-$215 million, lags analysts' expectations for EPS of $0.48 on $213 million in revenue.
Last month, FoxHollow entered into a collaborative agreement with eV3
Aside from an accumulated deficit, FoxHollow maintains a very strong balance sheet, with no long-term debt and an ample amount of cash. Product revenues increased by more than 50% for the company's full-year results, and FoxHollow predicts another year of double-digit sales growth. FoxHollow's SilverHawk is immensely profitable, targeting a large PAD market; the condition is estimated to afflict approximately 12 million people nationwide. Even megacap pharmaceutical Sanofi-Aventis
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Fool contributor Billy Fisher does not own shares of any of the companies mentioned.