Cutera (NSDQ:CUTR) posted first-quarter results that beat the overall consensus on Wall Street.
The Brisbane, Calif.–based cosmetic and aesthetic laser equipment company yesterday reported losses of -$359,000, or -2¢ per share, on sales of $49.668 million for the three months ended March 31, for a sales growth of 54.06% compared with Q1 2020.
Earnings per share were 20¢ ahead of The Street, where analysts were looking for sales of $39.37 million.
“I am pleased with our first-quarter results, which reflect the continued progress we have made since the onset of the COVID-19 pandemic,” CEO Dave Mowry said in a news release.
“In the first quarter, we achieved broad strength across our business, driven by consistent execution from our commercial teams, strength in the skincare business, and a slow but steady improvement in our end markets. Building upon the tremendous work from our team, in 2021 we plan to continue to improve gross margins by reducing manufacturing costs; increase sales and sales productivity with our focus on people and process and deliver innovative products through our increased R&D investments.”
Cutera did not provide a financial outlook for the fiscal year 2021 due to the underlying uncertainties surrounding the COVID-19 pandemic.
Shares in CUTR were up more than 6% to $31.31 apiece in morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly.