March 24, 2017
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Second Sight posts $33.2 million net loss in 2016
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Second Sight Medical Products reported a net loss of $33.2 million, or $0.84 per share, in 2016 compared with a net loss of $20 million, or $0.56 per share, the previous year, according to a company press release.
Net sales were down from $8.9 million in 2015 to $4 million in 2016, which the company attributed to a reduction in global implant volumes and reduced revenue per unit.
In the fourth quarter, Second Sight reported a net loss of $10.4 million, or $0.24 per share, compared with a loss of $5.5 million, or $0.15 per share, in the same period of 2015.
Operating expenses totaled $27.1 million in 2016 compared with $23.7 million in 2015.