UPDATE 1-Syneron Medical sees lower Q3 revenue

Mon Oct 20, 2008 8:22am EDT
 
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Oct 20 (Reuters) - Laser device maker Syneron Medical Ltd (ELOS.O) forecast third-quarter revenue below market estimates, sending its shares down 12 percent.

The Israel-based company expects revenue between $29 million and $30 million, compared with $33 million a year earlier. Analysts were expecting $36.8 million, according to Reuters Estimates.

Syneron expects to report GAAP earnings of 11 cents to 13 cents a share for the quarter.

Shares of the company fell to $9.96 amid low volume trading before the bell. They closed at $11.35 Friday on Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Deepak Kannan)

 

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