Alimera Sciences Inc. (NASDAQ: ALIM) has provided a glimpse into how it fared in 2Q2016 by pre-announcing the results for the quarter before the actual release date on August 3. What you see from the preliminary results is that Alimera’s revenue grew strongly in the latest quarter.
The company announced that both consolidated revenue and U.S. revenue for the quarter soared above the revenue figures in posted in the prior and year-ago quarters.
Alimera Sciences Inc. (NASDAQ: ALIM) release preliminary consolidated revenue for 2Q2016 in the band of $9.3 to $9.5 million. If you compare the latest topline figure with the one posted in the last quarter, you see that revenue expanded more than 50%. You also see the same rate of topline expansion if you compare revenue for the latest quarter with revenue for the year-ago quarter.
U.S. revenue expand 75%
If you narrow down to Alimera Sciences Inc. (NASDAQ: ALIM)’s U.S. business, you see a strong topline improvement. The company said that it expects 2Q2016 revenue from the U.S. to be in the range of $7 to $7.2 million. That tells you that U.S. revenue for the latest quarter grew more than 65% over the revenue in the prior quarter. But if you compare the latest quarter with the year-ago quarter, you see that revenue expanded more than 75%.
Alimera Sciences Inc (NASDAQ: ALIM) on path to beating estimates
Though the actual financial results that Alimera Sciences Inc. (NASDAQ: ALIM) will release on August 3 and discuss on August 4 may differ from the preliminary results already announced, you can see that the company is on track to beat the consensus estimate. Analysts on the average are looking for 2Q revenue of $7.2 million and you can see that the lower-end of the preliminary revenue announced by Alimera already tops that estimate.
What fueled revenue growth?
According to Alimera Sciences Inc. (NASDAQ:ALIM), growing adoption of its product called ILUVIEN was responsible for the robust overall sales registered in the latest quarter. The company said that ILUVIEN sales hit record levels in 2Q.
According to Alimera’s CEO, Dan Myers, there is ample room for continued expansion of ILUVIEN sales.