The Yokneam, Israel-based medical aesthetics company posted losses of $4.3 million, or -12¢ per dilute share, on sales of $68.8 million for the 3 months ended June 30, widening losses by more than 170% on a 1.0% sales gain.
Accounting for 1-time expenses, Syneron’s per-share earnings were right on the money 2¢, but sales were 3% shy of The Street’s $70.9 million expectation.
The market responded by sending share prices down 5.3%, from a $9.25 close August 13 to an $8.76 open the next day. Shares were down 0.6% from yesterday’s $8.88 close to $8.82 as of about 10:40 a.m. today.
"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," said CEO Shimon Eckhouse in prepared remarks.