Miramar Labs, Inc. (MRLB) saw its loss widen to $3.92 million, or $0.42 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $3.67 million, or $9.57 a share. On the other hand, adjusted net loss for the quarter widened to $3.92 million, or $0.42 a share from a loss of $3.69 million or $9.57 a share, a year ago.
Revenue during the quarter grew 13.45 percent to $4.30 million from $3.79 million in the previous year period. Gross margin for the quarter expanded 439 basis points over the previous year period to 58.46 percent. Operating margin for the quarter stood at negative 84.18 percent as compared to a negative 84.13 percent for the previous year period.
Operating loss for the quarter was $3.62 million, compared with an operating loss of $3.19 million in the previous year period.
Michael Kleine, president and chief executive officer of Miramar Labs, said, "We continued to see very strong momentum in our North American business in the third quarter and year-to-date, as we drive awareness and adoption of our technology. In Asia, we also have delivered solid year-to-date performance, driven by additional shipments to China. In Europe and the Middle East, we experienced an increase in consumable sales offset by lower console sales due to the summer holiday season and the timing of purchases from some of our distributors."
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