Cutera, Inc. (CUTR) Misses Q1 EPS by 10c

Cutera, Inc. (NASDAQ: CUTR) reported Q1 EPS of ($0.26), $0.10 worse than the analyst estimate of ($0.16). Revenue for the quarter came in at $16.2 million versus the consensus estimate of $17.02 million.

Key highlights for the first quarter of 2014 were as follows:

• Revenue grew 1% to $16.2 million, compared to the first quarter of 2013.
• Gross margin improved slightly to 55%, compared to 54% in the first quarter of 2013.
• Net loss was $3.6 million, or $0.26 per diluted share. Non-cash expenses for stock-based compensation, depreciable and intangible amortization totaled $1.0 million for the quarter. This loss reflects ramp-up expenses related to the expanded North American sales force and other commercial initiatives.
• Showcased two new products, Excel HR and Enlighten. Commercialization plans for these products remain on schedule.
• Cash and marketable securities position remains strong at $83.8 million.

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

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