PolarityTE Inc. Q2 Loss Decreases, but misses estimates

PolarityTE Inc. (PTE) reported Loss for second quarter that decreased from the same period last year and beat the Street estimates.

The company's bottom line totaled -$0.07 million, or -$0.49 per share. This compares with -$3.19 million, or -$1.01 per share, in last year's second quarter.

Excluding items, PolarityTE Inc. reported adjusted earnings of -$6.70 million or -$1.30 per share for the period.

Analysts on average had expected the company to earn -$1.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 97.2% to $0.07 million from $2.54 million last year.

PolarityTE Inc. earnings at a glance (GAAP) :

-Earnings (Q2): -$0.07 Mln. vs. -$3.19 Mln. last year.
-EPS (Q2): -$0.49 vs. -$1.01 last year.
-Analyst Estimates: -$1.25
-Revenue (Q2): $0.07 Mln vs. $2.54 Mln last year.

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