Cutera, Inc. (NASDAQ:CUTR) (“Cutera” or the “Company”), a leading provider of laser and energy-based aesthetic systems for practitioners worldwide, today announced the following preliminary, unaudited, financial results for the quarter ended September 30, 2016:
- Revenue of approximately $30.0 million, an increase of 30% over the same period in the prior year;
- Record third quarter revenue, and among the highest quarterly revenue overall, in Company history;
- Result marks the ninth consecutive quarter of double-digit revenue growth;
- Gross Margin of approximately 59%; and
- GAAP Net Income is expected to be in the $1.3 million to $1.5 million range.
Ron Santilli, Interim Chief Executive Officer and Chief Financial Officer stated, “We are pleased that revenue for the third quarter has substantially exceeded our prior guidance. The preliminary revenue represents the strongest third quarter, and among the highest quarters overall, in Cutera’s history – a remarkable achievement for what is typically a seasonally weaker quarter of the year. We achieved revenue growth in both the North American and Rest of World (“ROW”) markets and saw strength across all of our platforms, reflecting the continued execution of our growth strategies. We are also pleased to have achieved GAAP profitability, indicating the leverage in our business model as we continue to grow. We believe the market for aesthetic equipment remains strong and our continued high rate of growth indicates to us that we are taking market share. We believe that we are well positioned with our products, pipeline, and commercial channels to continue this momentum.”
The Company plans to release actual third quarter 2016 financial results on Monday, November 7, 2016 after market close.