Cutera (NSDQ:CUTR) posted fourth-quarter results that beat the consensus forecast on Wall Street.
The Brisbane, Calif.-based company reported profits of $2.2 million, or 12¢ per share, on sales of $49.9 million for the three months ended Dec. 31, 2020, for a bottom-line sales growth of 9.5% compared with Q4 2019.
Earnings per share were 12¢, 23¢ ahead of The Street, where analysts were looking for sales of $44.5 million.
“I am pleased with our overall results for the fourth quarter and by the efforts our team put forth over the entirety of 2020. Our team’s commitment to execution drove steady improvement during the second half of 2020, posting solid results despite the difficult operating environment,” CEO Dave Mowry said.
“Our focus and resiliency enabled us to make steady progress on our vital commercial and operational initiatives during 2020. As a result of these efforts, we enter 2021 well-positioned to accelerate growth and expand profitability as the impact of COVID-19 continues to wane. I am particularly excited about what lies ahead for Cutera, as we work to bring truly innovative products to market and continue to fortify our business with greater discipline to sustain our financial performance.”
Due to the uncertainties surrounding the COVID-19 pandemic, Cutera is not providing a formal guidance for 2021.
Shares in CUTR were at a standstill at $32.41 apiece in pre-market trading.