Syneron Medical Ltd. (NASDAQ:ELOS) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Syneron Medical Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 60% to $0.02 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Rose 1.07% to $68.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Syneron Medical Ltd. reported adjusted EPS income of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.09. It missed the average revenue estimate of $70.93 million.
Quoting Management: Dr. Shimon Eckhouse, Chief Executive Officer of Syneron, commented, “When I took over as CEO in April, we began taking action to enhance our leadership team and develop and execute on a strategic plan to drive growth. Our initial focus was and continues to be in the North American market, where we began expanding our sales team to drive top-line growth, with a particular focus on higher margin products for the non-core market. The appointment of Erik Dowell to President of the Americas is an important step in this direction. Erik, who joined Syneron in 2003 as a territory manager, has been a top performer throughout his tenure with Syneron. He was the North American Vice President of Sales until 2010, after which he moved to become the head of our business in Europe, Middle-East and Africa where he built and reorganized our sales channels, increasing our sales from 2010 to 2012 by more than 50%.”
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