Derma Sciences Q3 Loss Widens - Quick Facts

(RTTNews) - Derma Sciences, Inc. (DSCI), a tissue regeneration company focused on advanced wound and burn care, Monday said third-quarter net loss widened to $11.2 million, or $0.45 per share from $4.9 million, or $0.29 per share in the prior year, principally due to the decrease in gross profit and higher operating expenses.

On average, four analysts polled by Thomson Reuters expected a loss of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Total net sales decreased 8.7 percent to $20.2 million from last year's $22.1 million. Analysts expected revenues of $21.93 million.

Gross margin was 31.5 percent, compared with 36.4 percent last year, hurt by product mix and higher manufacturing costs primarily associated with adding staff in anticipation of increasing revenue, as well as unfavorable foreign currency exchange and a one-time charge of $400,000 related to TCC-EZ quality issues.