Mainstay Medical International plc announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company reported operating loss of $7,987,000 compared with $6,280,000 for the same period a year ago. Loss before tax was $8,771,000 compared with $6,295,000 for the same period a year ago. Net loss attributable to equity holders of the company were $8,842,000 or $1.98 per basic and diluted share compared with $6,356,000 or $1.48 per basic and diluted share for the same period a year ago. Net cash used in operations was $7,545,000 compared with $5,689,000 for the same period a year ago. Acquisition of property and equipment was $21,000 compared with $64,000 for the same period a year ago.

The company provided tax rate guidance for the full year of 2016. The tax charge has been prepared based on the group's best estimate of the weighted average tax rate that is expected for the full financial year.