Tactile Systems Technology: Sinks on Q2 loss, warns of more COVID-19 pain

Tactile Systems Technology

04/08/2020 16:59

** Shares of the medical technology company  TCMD.O  fall
17.99% to $35.49 in late morning trade 
    ** Stock is on track for its worst daily pct loss on record
    ** Posts Q2 loss vs year-ago profit; total revenue declines
22% to $35.1 mln during the quarter  urn:newsml:reuters.com:*:nGNX6xNqTN
    ** Co says Q2 revenue was hurt by limited access to co's
clinician customers and their patients 
    ** During the quarter, co continued to see healthcare
facilities, clinics reducing patient consultations or closing
temporarily due to COVID-19
    ** "As we look ahead to the remainder of 2020, we expect the
COVID-19 pandemic to continue to impact our financial and
operational results" - CEO
    ** TCMD makes medical devices for at-home treatment of
chronic diseases
    ** Stock is down 47.1% this year 

 (Reporting by Sanjana Shivdas in Bengaluru)
 ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646
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@SanjanaShivdas;))