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Syneron Medical narrows Q3 losses by 94%, shares down 5.4%

Wed, 11/07/2012 - 2:40pm
Mass Device

Syneron Medical shares slide 5.4% after the company posts improved 3rd quarter results, narrowing losses by 94%.

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Syneron Medical (NSDQ:ELOS) remained in the red during its 3rd quarter, but managed to narrow its losses by 94.3% compared with the same period last year.

The Israel-based aesthetic device maker posted $2.1 million in net losses, or 6¢ per share, on sales of $60.1 million for the 3 months ended Sept. 30. That compared with a net loss of $37 million, or $1.14 per share on sales of $57 million during the same period last year.

Excluding 1-time costs, net income amounted to $1 million, or 3¢ per share, blowing away expectations. Wall Street analysts' consensus prediction for the quarter was a loss of 4¢ per share.

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