Palomar Medical Gains on Swing to Q4 Black
Fourth-quarter profitability sends shares of Palomar Medical up nearly 5% on Wall Street today.
The Burlington, Mass.-based cosmetic device company reported profits of $$2.3 million, or 12¢ per share, on sales of $17.5 million for the 3 months ended Dec. 31, 2012, compared with losses of $1.9 million or 10¢ per share during Q4 2011. The top-line gain amounted to 30.6%. Analysts were expecting losses per share of 1¢.
For the full year, Palomar logged losses of $6.2 million, or 33¢ per share, on sales of $55.4 million, compared with profits of $7.4 million, or 39¢ per share, on sales of $44.4 million during 2011. Analysts on The Street were looking for a slight gain in EPS of 0.33¢.