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Palomar Medical Gains on Swing to Q4 Black

Mon, 02/11/2013 - 6:49pm
Mass Device

Fourth-quarter profitability sends shares of Palomar Medical up nearly 5% on Wall Street today.

Palomar Medical Technology

Palomar Medical (NSDQ:PMTI) gained on Wall Street today after a swing to 4th-quarter profits bested Wall Street's earnings expectations by 1 thin dime.

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¢.

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