The company blames manufacturing delays in new products.
Laser cosmetic surgery developer Syneron Medical Ltd. (Nasdaq: ELOS) has published a revenue and profit warning for the third and fourth quarters of 2007, and the share subsequently fell 5.8% to a six-month low, but rebounded 1% in after-hours trading. The share closed at $18.38 on Friday, giving a market cap of $502 million.
The company said that it would post a net profit of $7-8 million on $33 million revenue for the third quarter and $36-38 million revenue for the fourth quarter. The company now predicts 20% annual growth, down from its previous growth guidance of 25%.
The company attributes the shortfall to manufacturing delays in the new VelaShape System and Matrix IR applicator, delaying their launch by a month to the end of the third quarter.
Analysts predict $35.3-37.8 million revenue for the third quarter and $38.5-41.3 million revenue for the fourth quarter.
Published by Globes [online], Israel business news - www.globes.co.il - on October 21, 2007
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