Syneron Medical Ltd. beats Q2 revenue estimates, raises guidance

Shares of Syneron Medical Ltd. (Nasdaq: ELOS) are trading higher this afternoon, after the developer and marketer of aesthetic medical devices reported second quarter revenue above analyst estimates and net income in line with estimates. The company also raised revenue guidance for the year.

For the three months ended June 30, the Israeli medical company said revenues for the second quarter increased 36.4% to $37.5 million, while six analysts polled by Thomson Financial on average were expecting revenues of $33.21 million. Syneron Medical booked revenues of $27.52 million for the second quarter last year.

The company said revenues grew strongly across all geographical regions in the second quarter, with North America continuing to account for 56% of total revenues and with international sales accounting for the balance.

Syneron Medical recorded net income in line with seven analysts polled by Thomson Financial of $0.37 per diluted share, which includes a one-time charge of approximately $0.5 million, or $0.02 per diluted share related to a recent management transition. Excluding the charge, Syneron Medical earned net income of $0.39 per share—above the average analyst estimate.

The company is also raising its revenue guidance for the full fiscal year to $146 million, which is a 25% increase in revenue growth for the full year, compared with the firm’s prior guidance of revenue growth of 20%. Seven analysts polled by Thomson Financial had anticipated sales of $141.8 million for the full fiscal year.

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