Medical device company Apollo Endosurgery Inc (Nasdaq:APEN) stated on Wednesday that it recorded a net loss USD18.4m for the fourth quarter ended 31 December 2018.
This is a fall in earnings when compared with net loss of USD7.3m for the fourth quarter 2017.
Total revenues, which included sales of the divested Surgical product line, were USD15.2m for the fourth quarter ended 31 December 2018, down 6% over USD16.14m in Q4 2017.
Gross margin was 46.6% for the fourth quarter of 2018, a decline versus 57.7% for the fourth quarter of 2017, primarily due to a greater proportion of its product sales coming from our ESS products, which realize a lower gross margin than our other products.
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