Cutera Updates Full Year 2018 Revenue Guidance
October 04 2018 - 4:05PM
truSculpt®
iD Sets Company Record for New System Launch
Cutera, Inc. (CUTR) (“Cutera” or the “Company”), a leading provider
of laser and other energy-based aesthetic systems for practitioners
worldwide, today pre-announced that the Company expects its
revenues in the third quarter of 2018 to be approximately $40
million, or mid-single digit percentage growth over the third
quarter of 2017. Based on this, the Company is revising full
year 2018 revenue guidance to $165 million to $170 million, from
$178 million to $181 million.
“A few key factors that negatively impacted our third quarter
results are expected to continue into fourth quarter. Given
this, we are reducing our 2018 revenue guidance,” commented James
Reinstein, President and CEO of Cutera, Inc. “Among the
factors are headwinds faced by Juliet, our distributed women’s
health system. We believe there was a clear impact on the
overall market following the recent FDA communication to multiple
manufacturers. While Cutera did not receive a notification from the
agency, we believe our third quarter Juliet sales were negatively
affected. Additionally, our hiring goals for US-based capital
equipment sales personnel remain unmet. The result is an
overburdened sales team, which we also believe will impact the
fourth quarter as we hire and train new sales personnel. The
newly revised 2018 revenue guidance incorporates these challenges
with plans to remediate the latter in preparation for 2019.”
Reinstein continued, “While the Q3 result did not meet our
expectations, it should not overshadow an exceptional launch of our
next generation body sculpting offering,
truSculpt® iD, which delivered a record number of
systems in the quarter. We continue to be excited about our
prospects in the fast-growing body sculpting segment.”
Analyst Event Scheduled for October 9, 2018 The
Company confirms it will host an analyst event as scheduled on
October 9 at the Company’s headquarters in Brisbane, California.
The event will begin at 4:00 p.m. Eastern Time and will be webcast.
Additional details regarding the webcast will be posted on the
investor relations section of the Company website before the
event.
Third Quarter 2018 Earnings Release Scheduled for
November 6, 2018The Company plans to report results for
the third quarter ended September 30, 2018 after market close on
November 6, 2018. The Company will host a conference call to
discuss these results with additional comments and details on that
date, at 4:30 p.m. Eastern Time. Additional details regarding the
webcast and conference call dial-in information will follow.
For more information about Cutera and its products, visit
www.Cutera.com.
About Cutera, Inc.Brisbane, California-based
Cutera is a leading provider of laser and other energy-based
aesthetic systems for practitioners worldwide. Since 1998, Cutera
has been developing innovative, easy-to-use products that enable
physicians and other qualified practitioners to offer safe and
effective aesthetic treatments to their patients. For more
information, call 1-888-4CUTERA or visit www.cutera.com.
Cautionary Statement Regarding Forward-Looking
StatementsCertain statements contained in this press
release constitute “forward looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements represent management’s expectations or
beliefs concerning future events. “Forward-looking statements”
include all statements that do not relate solely to historical or
current facts, and can be identified by the use of words such as
“will,” “believe,” “expects,” “could,” “should,” “anticipate,” and
other similar expressions. These forward-looking statements
are subject to risks, uncertainties and other factors, many of
which are outside of the Company’s control, which could cause
actual results to differ materially from the results discussed in
the forward-looking statements. The estimated financial data
presented in this press release is preliminary and subject to
change as a result of events occurring after the date hereof and as
a result of the completion of the Company’s normal controls and
procedures related to its quarter-end financial statement closing
process. Any forward-looking statement speaks only as of the date
on which it is made, and, except as required by law, the Company
does not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. When considering these forward-looking
statements, you should keep in mind the risk factors and other
cautionary statements found in the Company’s filings with the
Securities and Exchange Commission (“SEC”), including its Annual
Report on Form 10-K. The risk factors and other factors noted in
the Company’s SEC filings could cause its actual results to differ
materially from those contained in any forward-looking
statement.
Cutera, Inc.Matthew ScaloVP, Investor Relations and Corporate
Development415-657-5500mscalo@cutera.com
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