Revenue during the quarter grew 26.07 percent to $37.88 million from $30.04 million in the previous year period. Gross margin for the quarter contracted 172 basis points over the previous year period to 57.86 percent. Total expenses were 88.26 percent of quarterly revenues, down from 93.35 percent for the same period last year. This has led to an improvement of 509 basis points in operating margin to 11.74 percent.

Operating income for the quarter was $4.44 million, compared with $2 million in the previous year period.

Mr. James Reinstein, chief executive officer stated, "We remain committed to advancing our technologies and providing our customers with an attractive path for upgrading their current systems to the new capabilities. Our financial performance in the fourth quarter, and overall trajectory, has the Company positioned well for continued growth in revenue, profits and cash generation."

For financial year 2017, Cutera, Inc. expects revenue to be in the range of $135 million to $140 million. It projects diluted earnings per share to be in the range of $0.45 to $0.50 for the same period.

For the first-quarter, Cutera, Inc. expects revenue to be in the range of $26 million to $27 million. It forecasts diluted loss per share to be in the range of $0.06 to $0.08 for the same period.

The company has spent $3.39 million cash to meet investing activities during the year as against cash inflow of $32.65 million in the last year.

Cash flow from financing activities was $4.31 million for the year as against cash outgo of $30.22 million in the last year period.

Cash and cash equivalents stood at $13.78 million as on Dec. 31, 2016, up 26.75 percent or $2.91 million from $10.87 million on Dec. 31, 2015.

Working capital increases
Cutera, Inc. has recorded an increase in the working capital over the last year. It stood at $59.46 million as at Dec. 31, 2016, up 20.37 percent or $10.06 million from $49.40 million on Dec. 31, 2015. Current ratio was at 3.09 as on Dec. 31, 2016, up from 3.02 on Dec. 31, 2015.