Syneron Medical. (ELOS) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $0.59 million, or $ 0.02 a share in the quarter, against a net loss of $6.53 million, or $0.18 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $2.66 million, or $0.02 a share compared with $0.94 million or $0.18 a share, a year ago. Revenue during the quarter grew 15.26 percent to $71.55 million from $62.07 million in the previous year period. Gross margin for the quarter contracted 355 basis points over the previous year period to 51.76 percent. Operating margin for the quarter period stood at positive 2.02 percent as compared to a negative 11.38 percent for the previous year period.
Operating income for the quarter was $1.44 million, compared with an operating loss of $7.06 million in the previous year period.
However, the adjusted operating income for the quarter stood at $3.78 million compared to $1.26 million in the prior year period. At the same time, adjusted operating margin improved 325 basis points in the quarter to 5.28 percent from 2.03 percent in the last year period.
Amit Meridor, chief executive officer of Syneron Medical, said "We delivered good revenue growth and improved profitability in the third quarter. Our revenue performance was driven by our Emerging Products, including the launch of UltraShape Power in North America. We are pleased that product revenue grew in all geographies, including 19.5% in North America where we are building on this momentum with the appointment of a proven aesthetic industry veteran, Philippe Schaison, as chief executive officer of our North America business."
Operating cash flow turns positiveSyneron Medical has generated cash of $1.91 million from operating activities during the nine month period as against cash outgo of $19.28 million in the last year period. The company has spent $3.86 million cash to meet investing activities during the nine month period as against cash inflow of $11.01 million in the last year period
The company has spent $5.01 million cash to carry out financing activities during the nine month period as against cash outgo of $6.82 million in the last year period.
Cash and cash equivalents stood at $50.26 million as on Sep. 30, 2016, up 21.64 percent or $8.94 million from $41.32 million on Sep. 30, 2015.
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