Syneron Medical narrows Q3 losses by 94%, shares down 5.4%
Syneron Medical shares slide 5.4% after the company posts improved 3rd quarter results, narrowing losses by 94%.
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.