Second Sight Medical Products, Inc. (EYES) saw its loss widen to $7.55 million, or $0.16 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $5.82 million, or $0.16 a share. On the other hand, adjusted net loss for the quarter widened to $7.28 million, or $0.16 a share from a loss of $4.87 million or $0.14 a share, a year ago. Revenue during the quarter dropped 4.18 percent to $1.01 million from $1.05 million in the previous year period. Gross margin for the quarter stood at negative 11.69 percent as compared to a positive 13.39 percent for the previous year period.
Operating loss for the quarter was $7.56 million, compared with an operating loss of $5.82 million in the previous year period.
"With a focus on execution and our Centers of Excellence ("COE") strategy, we had strong implant volume during the first quarter of 2017, including eight implants in North America and are seeing the momentum continue into the second quarter. We are pleased to have performed our first implants in three new centers and look forward to adding more COEs throughout the year," stated Will McGuire, chief executive officer of Second Sight.
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