Lombard Medical, Inc. announced unaudited earnings results for the third quarter ended September 30, 2017. Revenue increased to $1.8 million in the third quarter ended September 30, 2017, as the Company focused marketing efforts in the U.K. and Japan. For the third quarter, gross margin was 6.7%.

It is currently anticipated that revenue for fourth quarter of 2017 will be in the range of $1.9 to $2.1 million with gross margins increasing to between 15 to 19% based on increased absorption of manufacturing overhead. Operating expenses are expected to be approximately $2.6 million.

For 2018, the company believes that increased demand for Aorfix in Japan and continued adoption of the Altura product line in the UK and other markets in Europe will result in sales growth of over 40%, resulting in revenue of between $10 to $12 million. The company anticipates operating expenses of approximately $8 million in 2018, and continued increases in gross margins based on lower manufacturing costs.