Cutera Inc. (NASDAQ:CUTR) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Cutera Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.15 in the quarter versus EPS of $-0.38 in the year-earlier quarter.
Revenue: Rose 1.53% to $15.97 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cutera Inc. reported adjusted EPS loss of $0.15 per share. By that measure, the company missed the mean analyst estimate of $-0.12. It missed the average revenue estimate of $18.29 million.
Quoting Management: Kevin Connors, President and CEO of Cutera, stated, “Our U.S. and international revenue increased by 3% and 1%, respectively, when compared to the same period one year ago. While our U.S. and international revenue modestly expanded, we are targeting higher growth rates in the future. As we believe that market conditions remain sound, we are planning to expand the size of our North American sales team in the second half of 2013. Our growth this quarter was driven primarily by ExcelV and truSculpt products and the growth of our Service revenue. The international growth was propelled primarily by our operations in France and our distributor network in Asia Pacific.”
Key Stats (on next page)…