TearLab Corporation Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2018
TearLab Corporation reported unaudited consolidated financial results for the first quarter ended March 31, 2018. For the three months ended March 31, 2018, TearLab’s net revenues were $6.4 million, a decrease of 3.8% from $6.7 million for the same period in 2017. The company’s reported net loss for the first quarter was approximately $0.9 million, or $0.09 basic loss per share which included a pre-tax reduction of approximately $0.5 million in cost of goods sold related to the Restated License Agreement with UCSD. This compared to a reported net loss of approximately $4.4 million, or $0.82 basic loss per share in the first quarter of 2017. Gain from operations was $217,000 against loss of $3.39 million for the same period in 2017.