PolarityTE Inc. Q2 Loss Decreases, but misses estimates

(RTTNews) - 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.