Here's What's Pressuring Glaukos Corp Stock Today
Shares of Glaukos Corp (NYSE: GKOS), a medical technology company focused on glaucoma treatment, were down about 9.8% as of 11:46 a.m. on Thursday in response to a second-quarter earnings report issued after the bell on Wednesday. Although sales of the company's pressure-relieving stents are surging, the market isn't pleased with the bottom line dipping into negative territory.
Second-quarter sales of Glaukos Corp's iStent and related products surged 45% higher than the same period last year, but the bottom line didn't follow the top. The company's operations lost $3.9 million during the second quarter, which is hardly what you'd expect given the $2.1 million operating profit recorded during the second quarter last year and the huge sales increase.
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Source: Fool.com
