Tearlab Corporation Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2017; Announces Impairment on Existing Reader Devices Included in Fixed Assets for the Fourth Quarter of 2018
For the year, the company reported total revenue of $27,119,000, loss from operations of $11,788,000, net loss and comprehensive loss of $16,101,000 or $2.78 per share compared to the total revenue of $28,014,000, loss from operations of $15,976,000, net loss and comprehensive loss of $19,920,000 or $4.29 per share for the previous year.
The Company's reported net loss was negatively impacted by a non-cash charge of $0.5 million in the fourth quarter of 2017 related to both impairment of existing reader devices included in fixed assets and obsolete equipment based on the Company's new business model and revised forecast of readers expected to be sold or placed in the future.