Cutera, Inc. (NASDAQ: CUTR) lowered its FY18 sales guidance from $178 million-$181 million to $165 million-$170 million.
The Brisbane, California-based company, a leading provider of laser and other energy-based aesthetic systems for practitioners worldwide, today pre-announced it 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.
Said CEO James Reinstein, "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.
"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 U.S.-based capital equipment sales personnel remain unmet."
The Company plans to report results for the third quarter ended September 30 after market close on November 6
Shares for Cutera removed $6.56, or 22%, to $23.22.
