Goleta-based Sientra’s third quarter revenues down
Sientra Inc. sales were down 6.9 percent in the third quarter of 2015 but the results were largely unaffected by recent pandemonium at the company.
The Goleta-based company reported third quarter results on Nov. 16 for the quarter that ended on Sept. 30, just one week after European regulators pulled products made by Sientra’s Brazilian manufacturer from the market. Third quarter revenues of $9.92 million were down from $10.67 million during the third quarter of last year.
Sientra said that as of Sept. 30, it had $148.9 million in cash on hand. Analysts and shareholders will likely get a better idea of Sientra’s financial standing when the company reports fourth quarter earnings results early next year.
During the third quarter, operating expenses increased from $8.6 million last year to $12.6 million this year. Net losses for the company were $6.6 million during the quarter, more than quadrupling the $1.5 million the company lost during last year’s third quarter.
During an earnings call Nov. 16, Chief Financial Officer Matt Pigeon said the company was withdrawing its full-year financial guidance.
Sientra shares closed Nov. 16 down 15 cents to $3.21 per share
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