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Tuesday, August 7, 2018

=Cutera (CUTR) reported earnings on Tue 7 Aug 2018 (a/h)

Maker of laser skin treatments
HQ: Brisbane, California
Founded: 1998

Cutera misses by $0.06, beats on revs; guides FY18 EPS below consensus, reaffirms FY18 revs guidance 
  • Reports Q2 (Jun) earnings of $0.12 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $0.18; revenues rose 16.9% year/year to $42.55 mln vs the $41.97 mln Capital IQ Consensus.
    • Revenue growth continues to be driven by strong demand for the truSculpt 3D, as well as, Juliet and Secret RF systems. truSculpt 3D revenue grew 29% from the year ago period.
    • Gross Margin of 53%, compared to 51% in the first quarter 2018, and 58% in the year ago period, reflects a combination of slightly lower average system pricing on legacy products and growth in its distributor channel.
  • Co issues guidance for FY18, sees EPS of $0.50-0.60, reflecting the adjustment in gross margin and operating expenses, vs. $1.05 Capital IQ Consensus Estimate; sees FY18 revs of $178-181 mln vs. $178.58 mln Capital IQ Consensus Estimate.
  • Co states, "We are adjusting full year gross margin expectations to be in the range of 53% to 54% of total revenue. This adjustment incorporates previously discussed infrastructure investments, the timing of realizing operational improvements, and the impact from second quarter's global sales mix, along with an expectation that gross margin will improve in the second half of 2018 compared to the first half of 2018;"

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