Cutera Inc. (NASDAQ:CUTR) had a loss 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. Shares are up 1.80%.
Cutera Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.04 in the quarter versus EPS of $-0.10 in the year-earlier quarter.
Revenue: Rose 0.05% to $19.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cutera Inc. reported adjusted EPS loss of $0.04 per share. By that measure, the company missed the mean analyst estimate of $-0.02. It missed the average revenue estimate of $21.7 million.
Quoting Management: Kevin Connors, President and CEO of Cutera, stated, “The revenue growth experienced in many segments of our global markets, was offset by the negative impact of the devalued Japanese Yen versus the US Dollar and the softening of our Canadian business. The Japanese Yen devalued by approximately 24% against the US dollar from 80 at June 30, 2012, to 99 at June 30, 2013.
During the quarter, we made certain sales management and structural changes in our North American sales organization. We are currently in the midst of a sales force expansion in North America, which includes some sales specialists focused on increasing our market penetration into the core market with our high-performance vascular workstation − Excel-V. Our success with this product has been exceptional in certain regions and we see even broader opportunities if we provide additional structural focus. With these changes, coupled with other expansion initiatives, we believe we are well-positioned to improve our performance in this region.”
Key Stats (on next page)…