REFILE-UPDATE 2-Syneron Q4 loss surprise, shares hit life low
(Adds dropped word in paragraph 1)
* Post surprise Q4 loss
* Q4 rev $14.2 mln vs est $25.5 mln * Gross margins fall to 55 pct
* Shares down 23 pct to life low (Recasts, adds details, share movement)
Feb 12 (Reuters) - Aesthetic laser device maker Syneron Medical Ltd (ELOS.O) posted a surprise quarterly loss hurt by mounting operating expenses and unfavorable foreign currency, sending its shares tumbling 23 percent to their lowest levels ever.
The aesthetic-laser product makers have seen a fall in product revenue amidst a slowing U.S. economy where consumers are hesitating to spend on discretionary services.
Revenue fell about 63 percent to $14.1 million.
Net loss in the fourth quarter was $15.9 million, or 58 cents a share, compared with a profit of $4.4 million, or 16 cents a share.
Excluding items, the company posted a loss of 50 cents a share. Analysts were expecting earnings of 5 cents a share, before special items, according to Reuters Estimates.
Operating expenses rose about 11 percent in the quarter.
The company, which has reduced its workforce by 20 percent, said gross margins for the fourth-quarter fell to 55 percent hurt mainly by a $2 million charge for obsolete and excess inventory, the weakening euro, and fixed overhead costs.
Shares of the Israel-based company fell to a lifetime low of $5.66, before recouping losses to trade down $1.30 at $6.01 Thursday afternoon on Nasdaq.
For the press release, please click [ID:nMKW73297a] . For the alerts, please click [ID:nWNAB1839] (Reporting by Anuradha Ramanathan in Bangalore; Editing by Savio D'Souza, Amitha Rajan)
