Intersect ENT advanced in morning trading on Monday after the commercial stage drug-device company pre-announced higher-than-estimated Q4 revenue and guided for Q1 revenue nearly in line with the Street view. Shares rose more than 2%.
Preliminary unaudited revenue for Q4 is expected to be in the range of $24.0 to $24.2 million, an increase of 28% compared to $18.8 million for the year-ago period. That topped the $23.08 million of analysts polled by Capital IQ. Full-year revenue is expected to be in the range of $78.5 to $78.7 million, an increase of approximately 28% compared to $61.6 million for 2015. That also beat the analyst consensus of $77.5 million.
Looking forward, the company forecasts 2017 revenue of $87-89 million and Q1 revenue of $19-$19.5 million. Analysts were looking for $89.1 million and $19.5 million respectively. Intersect ENT expects to provide Q4 results and further 2017 guidance near the end of next month.