(RTTNews) - Syneron Medical Ltd. (ELOS: News ), a manufacturer and distributor of medical aesthetic devices, Monday reported a loss for the third quarter, reflecting a sharp decline in revenues, as the aesthetic industry was impacted by the economic downturn and credit tightening.

Net loss for the quarter attributable to the company's shareholders was $5.55 million or $0.20 per share, compared with a profit of $2.19 million or $0.08 per share reported in the same period last year.

Latest quarter results included $0.7 million in stock-based compensation and about $1.2 million of expenses related to the merger of Syneron with Candela Corporation, announced on September 9, 2009.

Net loss, excluding stock-based compensation expenses, was $4.81 million or $0.17 per share, versus a profit of $3.08 million or $0.11 per share in the third quarter of 2008. On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.15 per share for the quarter. Analysts' estimate typically excludes one-time items.

Quarterly revenues plunged to $14.28 million from $28.49 million in the comparable period. Analysts estimated revenues of $14.74 million for the quarter.
As of September 30, Syneron's cash position, including long-term deposits, totaled $213.3 million and continues to have no debt. Inventories dropped 24% to $9.7 million since December 31, 2008.

For the nine-month period, net loss attributable to Syneron shareholders was $19.24 million or $ 0.70 per share, compared to a profit of $21.50 million or $0.78 per share in the same period a year ago. Year-to-date, revenues were $40.32 million, much lower than $100.81 million in the comparable period.

ELOS closed Friday's regular trading at $11.96 per share on the Nasdaq.

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by RTT Staff Writer

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