TearLab Corp (TEAR) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.23. The company posted revenue of $6.80 million in the period, compared to analysts expectations of $6.82 million. The company’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.25 EPS.
TearLab Corp closed down -0.0322 points or -4.13% at $0.7478 with 1,04,716 shares getting traded on Monday. Post opening the session at $0.75, the shares hit an intraday low of $0.73 and an intraday high of $0.8439 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform the TearLab Osmolarity System that enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company is engaged in commercial manufacturing of the TearLab Osmolarity System. The Company’s wholly owned subsidiary TearLab Research Inc. develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries metabolites (glucose) genes and proteins) at the point-of-care. The TearLab Osmolarity System measures tear film osmolarity for the diagnosis of Dry Eye Disease (DED). The TearLab Osmolarity System is an integrated testing system consisted of: the TearLab disposable the TearLab Pen and the TearLab Reader.