Cutera (NSDQ:CUTR) yesterday posted first-quarter results that beat the overall consensus on Wall Street.
The Brisbane, Calif.-based company reported losses of -$359,000, or -2¢ per share, on sales of $49.668 million for the three months ended March 31, for a sales growth of 54.06% compared with Q1 2020.
Earnings per share were 20¢ ahead of The Street, where analysts were looking for sales of $39.37 million.
“I am pleased with our first-quarter results, which reflect the continued progress we have made since the onset of the COVID-19 pandemic,” CEO Dave Mowry said in a news release. “In the first quarter, we achieved broad strength across our business, driven by consistent execution from our commercial teams, strength in the skincare business, and a slow but steady improvement in our end markets. Building upon the tremendous work from our team, in 2021 we plan to continue to improve gross margins by reducing manufacturing costs; increase sales and sales productivity with our focus on people and process and deliver innovative products through our increased R&D investments. As we execute these vital few initiatives, our objective is to deliver strong performance despite the remaining pandemic uncertainties that will likely be headwinds for many of us in this market.”
Cutera did not provide a financial outlook for the fiscal year 2021 due to the underlying uncertainties surrounding the COVID-19 pandemic.
Shares in CUTR were up 12.41% to $33.17 apiece at market open.