UPDATE: TearLab Posts Q4 Loss

reported a loss for the fourth quarter on Thursday. The San Diego, California-based company posted a quarterly net loss of around $6.9 million, or $0.21 per share, versus a year-ago net loss of $4.2 million, or $0.13 per share. The latest quarter results included non-cash income of around $1.2 million related to the revaluation of warrants issued in June 2011, while the year-ago results included non-cash expense of around $11.1 million related to the revaluation of warrants issued in June 2011. Its net revenue climbed 19 percent to $5.3 million in the fourth quarter, compared to $4.4 million in the year-ago quarter. However, analysts were expecting a loss of $0.17 per share on revenue of $5.46 million. As of December 31, 2014, the company had $16.3 million in cash and cash equivalents. "2014 was a building year for us, with our primary focus being on improving the integration of the TearLab Osmolarity test into the daily routines of our customers," commented Elias Vamvakas, TearLab's Chief Executive Officer. "Moving into 2015, with an effective sales force and strong evidence of clinical validation, a better understanding of implementation and capacity, and the ability to focus on both utilization and new accounts again, we are very excited about the year ahead." TearLab shares finished up 0.67 percent at $3.01 during regular trading hours.