Cutera (CUTR) Reports In-Line Q1 EPS, Offers Guidance, CFO Resigns

Cutera (NASDAQ: CUTR) reported Q1 EPS of ($0.07), in-line with the analyst estimate of ($0.07). Revenue for the quarter came in at $29.3 million versus the consensus estimate of $26.47 million.

GUIDANCE:

Cutera sees FY2017 EPS of $0.45-$0.50, versus the consensus of $0.46. Cutera sees FY2017 revenue of $140 million, versus the consensus of $136.6 million.

Cutera sees Q2 2017 EPS of $0.03, versus the consensus of $0.05. Cutera sees Q2 2017 revenue of $32 million, versus the consensus of $32 million.

James Reinstein, President and Chief Executive Officer of Cutera, stated, “We are very pleased to achieve a record level of revenue this past quarter resulting in our eleventh consecutive quarter of double-digit revenue growth, compared to the same period in the prior year. The growth is coupled with significant improvement in several operating metrics, illustrating the organization’s ability to leverage the strong revenue. Our 31% revenue growth was driven by multiple platforms within our product portfolio, with particular strength coming from our enlighten product in North America. Our financial performance in the first quarter of 2017, and overall trajectory, has the Company well positioned for continued growth in revenue, profits and cash generation.

“Lastly, I would be remiss if I did not mention my regret that Ron Santilli, EVP and Chief Financial Officer, informed me of his decision to resign. I greatly appreciate the short time that we have worked together as Ron has been very collaborative and welcoming of me in my early days at Cutera. Ron will remain with the Company until we find his successor and a smooth transition is complete. On behalf of everyone at Cutera, I’d like to thank Ron for his 16 years of service and wish him well.”

For earnings history and earnings-related data on Cutera (CUTR) click here.

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