UPDATE 1-PhotoMedex sees Q4 revenue topping estimates
* Sees Q4 revenue up 80 percent to $52-$54 mln
* Sees 2012 revenue up 65 percent to $218-$220 mln
JERUSALEM Dec 13 (Reuters) - Medical device maker PhotoMedex said on Thursday it expected fourth-quarter revenue to exceed its estimates due to stronger sales in its consumer and professional business segments.
PhotoMedex, which makes light- and laser-based devices to focus on treating skin diseases, said its revenues would rise more than expected in the fourth quarter as successful holiday advertising in its consumer business led to forecast-beating sales.
PhotoMedex, which is based in the United States but with an office and a share listing in Israel, forecast an 80 percent jump in fourth-quarter revenue to $52-$54 million - above a prior estimate of a 60 percent year-on-year rise to $46-$48 million.
2012 revenues would exceed $200 million for the first time, PhotoMedex said, with an anticipated range of $218 million to $220 million, a gain of more than 65 percent over last year.
"We believe the operating initiatives put in place this past year position us well for continued growth in 2013," said Dolev Rafaeli, chief executive officer of PhotoMedex, in a statement.
PhotoMedex's Tel Aviv-listed shares rose 2.9 percent to 53.08 shekels.
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan |
- Israel pounds Gaza despite international peace efforts |
- Train carrying MH17 bodies on final journey reaches Ukraine city |
- Islamic State crushes and coerces on march towards Baghdad
- EU threatens Russia with more sanctions, but words ring hollow