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PhotoMedex Lifts Q4 Revenue Guidance; Stock Up - Quick Facts

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1/2/2014 8:49 AM ET

PhotoMedex, Inc. (PHMD: Quote) announced Thursday that it expects revenues for the fourth quarter of 2013 to be more than $60 million without any contribution from Japan, compared with prior guidance issued on November 6, 2013 for revenues for the fourth quarter of 2013 to be more than $55 million without any expected contribution from Japan.

The company attributed the quarterly revenue outperformance to holiday advertising in the Consumer business segment that yielded global direct response sales above prior forecasts, as well as to better-than-expected sales to retail and home shopping channel customers.

Dolev Rafaeli, chief executive officer of PhotoMedex, said, "Consumer demand for no!no! is strong and our advertising spend for the new no!no! Pro during the Christmas holiday season generated a very high media efficiency ratio. In other positive developments, we are experiencing strong patient response to our XTRAC advertising campaign in major markets. We are pleased that for the fourth consecutive quarter XTRAC treatment revenues grew by more than 50% over the prior-year comparison, and for the 12 months ended December 31, 2013 grew by more than 80% over the prior year."

The company expects to release financial results for the fourth quarter of 2013 and hold an investment-community conference call in mid-March 2014.

PHMD closed Tuesday's trading at $12.95. In Thursday's pre-market trading, the company's shares are up $1.35 or 10.42 percent to $14.30.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Editors Pick
After reporting a bigger than expected increase in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday that once again showed stronger than expected durable goods orders growth in the month of March. The report said durable goods orders surged up by 2.6 percent in March after jumping by a revised 2.1 percent in February. First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points.
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