CytoSorbents reports Q1 EPS (2c) vs. (11c) last year

Reports Q1 revenue $8.7M, consensus $9.01M. “Strong revenue growth in our distributor and other direct sales territories across the E.U. helped to substantially offset a temporary disruption in direct sales in Germany during the quarter. This was primarily due to our proactive reorganization and strategic realignment of our German commercial team and sales approach that is intended to renew sales growth in the country through deeper customer engagement, more effective market development, and improved sales representative productivity,” stated CEO Phillip Chan. “We are making steady progress with this important initiative and are confident it will lead to stronger execution and improved performance in Germany and our financial results overall this year, as we continue to advance our core business toward near breakeven…CytoSorb has been shown to disrupt the deadly cycle of inflammation, stabilize patients in shock, protect organ function, and ultimately improve clinical outcomes. Recent data confirm that early and aggressive use of CytoSorb leads to statistically significant improvements in survival and other key clinical indicators. We are now using this evidence to train our users and are confident our guidance will continue to drive broader adoption and more effective usage of this critical therapy.”