(Adds Outlook)
InMode Ltd (INMD) released earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company’s bottom line came in at $37.708 million, or $0.44 per share. This compares with $52.685 million, or $0.61 per share, in last year’s fourth quarter.
Excluding items, InMode Ltd reported adjusted earnings of $66.370 million or $0.78 per share for the period.
Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 20.8% to $133.571 million from $110.540 million last year.
Outlook:
Looking ahead, for full year 2023, the company provided earnings guidance below the Street view. However, revenue is projected above the estimates.
The medical technologies provider expects annual adjusted income per share of $2.58 – $2.60. Five analysts, on average, polled by Thomson Reuters forecast the company to earn $2.64 per share, for the year. Analysts’ estimates typically exclude special items.
INMD projects revenue of $525 million – $530 million for the full year. Analysts, on average, expect the company to register revenue of $522.72 million, for the year.
InMode Ltd Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $37.708 Mln. vs. $52.685 Mln. last year.
-EPS (Q4): $0.44 vs. $0.61 last year.
-Analyst Estimates: $0.67
-Revenue (Q4): $133.571 Mln vs. $110.540 Mln last year.
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