Syneron turns 4Q profit, international sales grow
Syneron Medical Ltd. turned a fourth-quarter profit, as international sales and an acquisition helped the Israeli company's revenue more than triple from the same quarter of 2009.
Syneron said Wednesday it earned $8.4 million, or 24 cents per share, in the three months that ended Dec. 31. That compares to a loss of $4.3 million, or 16 cents per share, in the prior year quarter. Adjusted earnings were 10 cents per share.
Revenue climbed to $53.5 million from $14.4 million. Syneron, which makes medical devices for wrinkle reduction, hair removal and acne treatment, acquired former rival Candela Corp. for about $65 million in an all-stock deal that closed in January 2010.
Analysts surveyed by FactSet expected a loss of 4 cents per share on $51.7 million in revenue in the fourth quarter. Syneron shares climbed 17 percent, or $1.99, to $13.67 in midday trading.
The company's international sales grew 20 percent to $35.3 million, while North American revenue climbed about 6 percent to $18.2 million.
Syneron also said its operating expenses climbed 29 percent to $20 million, pushed by big jumps in sales and marketing and general and administrative expenses.
For the full year, Syneron lost $25.5 million, or 74 cents per share, on $189.5 million in revenue. In 2009, the company had a loss of $23.6 million, or 86 cents per share, on revenue of $54.7 million.