IRVINE, Calif., Nov. 9, 2016 /PRNewswire/ -- Syneron Medical
Ltd. (NASDAQ:ELOS), a leading global aesthetic device company,
today announced financial results for the three month period ended
September 30, 2016.
Third Quarter 2016 Financial Highlights:
- Revenue of $71.5 million, up
15.3% year-over-year
- Product revenue up 18.6% year-over-year, including 19.5%
North America and 18.1%
international growth
- Emerging products revenue of $24.1
million, which represents the Company's strategic growth
drivers, grew 61% year-over-year
- Total Body Shaping revenue of $14.2
million grew 46% year-over-year
- GAAP earnings per share of $0.02,
compared to GAAP loss per share of $(0.18) in Q3 2015; non-GAAP earnings per share
of $0.08, compared to non-GAAP
earnings per share of $0.03 in Q3
2015
- Cash position as of September 30,
2016 of $82.9 million with no
debt; generated $3.9 million in cash
flow from operations
Amit Meridor, Chief Executive Officer of Syneron Medical, said
"We delivered good revenue growth and improved profitability in the
third quarter. Our revenue performance was driven by our Emerging
Products, including the launch of UltraShape Power in North America. We are pleased that product
revenue grew in all geographies, including 19.5% in North America where we are building on this
momentum with the appointment of a proven aesthetic industry
veteran, Philippe Schaison, as CEO of our North America business."
Mr. Meridor continued, "We continue to benefit from our
strategic focus on our Emerging Products, which drove improved
operating margin and net income in the quarter. We also generated
$3.9 million in cash flow from
operations, further strengthening our balance sheet."
Revenue Highlights for the Third Quarter Ended
September 30, 2016:
Third quarter 2016 revenue was driven by 61% growth from the
Company's Emerging Products, which represent the Company's
strategic growth drivers including UltraShape, VelaShape, PicoWay,
Profound and CO2RE Intima. Third quarter Emerging Products revenue
included $14.2 million in revenue
from the Body Shaping portfolio, which grew 46% year-over-year,
mainly from UltraShape sales, driven by the launch of UltraShape
Power.
Third quarter 2016 revenue did not include any sales from the
Company's dental laser subsidiary, which was sold in May 2016. In the third quarter 2015, the Company
had $0.5 million in sales from the
dental laser subsidiary.
Financial Highlights for the Third Quarter Ended
September 30, 2016:
GAAP Gross Margin for the third quarter 2016 was 51.8%,
compared to 55.3% in the third quarter 2015. Non-GAAP gross margin
for the third quarter 2016 was 53.1%, compared to 57.0% in the
third quarter 2015. This reflects revenue growth from international
distribution channels, mainly in the Asia-Pacific and EMEA regions, differences in
product mix, and higher product upgrade sales from recently
introduced products, compared to the third quarter 2015.
GAAP Operating Income for the third quarter 2016 was
$1.4 million, compared to a GAAP
operating loss of $(7.1) million in
the third quarter 2015, which included $5.6
million of intangible asset and goodwill impairments related
to a subsidiary. Non-GAAP operating income for the third quarter
2016 was $3.8 million, compared to
$1.3 million in the third quarter
2015. GAAP operating margin for the third quarter 2016 was 2.0%,
compared to a negative GAAP operating margin of (11.4)% for the
third quarter of 2015. Non-GAAP operating margin for the third
quarter 2016 was 5.3%, compared to 2.0% in the third quarter 2015.
This increase reflects growth from the Company's higher margin
Emerging Products, cost efficiencies, and revenue growth from the
Company's existing international distribution channels, which has
lower operating expenses for the Company.
GAAP Net Income and GAAP Earnings per Share in the third
quarter 2016 was $0.6 million, or
$0.02 per share, compared to GAAP net
loss of $(6.5) million, or
$(0.18) GAAP loss per share, in the
third quarter 2015. Non-GAAP net income and non-GAAP earnings per
share in the third quarter 2016 was $2.7
million, or $0.08 per share,
compared to non-GAAP net income of $0.9
million, or $0.03 non-GAAP
earnings per share, in the third quarter 2015.
Cash Position As of September 30,
2016, the Company's overall cash position, including cash
and cash equivalents, short-term bank deposits and marketable
securities, grew to $82.9 million
from $76.7 million as of June 30, 2016.
Use of Non-GAAP Measures:
This press release
provides financial measures for gross profit, operating income
(loss), net income (loss) and earnings (loss) per share, which
exclude expenses related to stock-based compensation expense,
amortization of acquired intangible assets, fair value adjustment
to investment in Iluminage Beauty JV, re-measurement of contingent
consideration fair value, impairments of a subsidiary's goodwill
and intangible assets, legal settlements and related fees, net gain
from sale of the Light Instruments subsidiary, and tax benefit, and
are therefore not calculated in accordance with Generally Accepted
Accounting Principles (GAAP).
Management believes that these non-GAAP financial measures
provide meaningful supplemental information regarding our
performance because it reflects our ongoing operational results,
operating income (loss), net income (loss) and earnings (loss) per
share, and exclude the impact of items or trends that are not
considered core influences on the results of operations, financial
position or cash flows. The presentation of this non-GAAP financial
information is not intended to be considered in isolation or as a
substitute for or superior to the financial information prepared
and presented in accordance with GAAP. Management uses non-GAAP
measures to make operational and investment decisions and to
evaluate the Company's performance and, therefore, believes it
important to make these non-GAAP adjustments available to
investors. A reconciliation of each GAAP to non-GAAP financial
measure discussed in this press release is contained in the
accompanying financial tables.
Conference Call:
Syneron management will host
its third quarter 2016 earnings conference call today at
8:30 a.m. ET. Syneron will be
broadcasting live via the Investor Relations section of its
website, www.investors.syneron.com. To access the call, enter the
Syneron Investor Relations website, then click on the webcast link
"Q3 2016 Results Webcast."
Participants are encouraged to log on at least 15 minutes prior
to the conference call in order to download the applicable audio
software. The call can be heard live or with an on-line replay
which will follow. Those interested in participating in the call
and the question and answer session should dial 877-280-3488 in the
U.S., and 1-646-254-3376 from outside of the U.S. The conference
pass code is: 8307359.
About Syneron Candela:
Syneron Candela is a
leading global aesthetic device company with a comprehensive
product portfolio and a global distribution footprint. The
Company's technology enables physicians to provide advanced
solutions for a broad range of medical-aesthetic applications
including body contouring, hair removal, wrinkle reduction, tattoo
removal, women's intimate wellness treatments, improving the skin's
appearance through the treatment of superficial benign vascular and
pigmented lesions, and the treatment of acne, leg veins and
cellulite. The Company has a wide portfolio of trusted, leading
products including UltraShape, VelaShape, GentleLase, VBeam
Perfecta, PicoWay, CO2RE, CO2RE Intima,
Profound and elōs Plus.
Founded in 2000, the company markets, services and supports its
products in 86 countries. It has offices in North America, France, Germany, Italy, Portugal, Spain, UK, Australia, China, Japan,
and Hong Kong and distributors worldwide.
Syneron, the Syneron logo, UltraShape, eMatrix and elos are
trademarks of Syneron Medical Ltd. and may be registered in certain
jurisdictions. The elos (Electro-Optical Synergy) technology is a
proprietary technology of Syneron Medical Ltd. All other names are
the property of their respective owners.
|
Syneron Medical
Ltd.
|
|
Unaudited Condensed
Consolidated Statements of Operations
|
|
(in thousands, except
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the
three-months ended
|
|
For the
nine-months ended
|
|
|
|
September
30,
|
|
|
September
30,
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$
71,547
|
|
|
$
62,074
|
|
|
$
215,210
|
|
|
$
198,959
|
|
Cost of
revenues
|
|
34,512
|
|
|
27,738
|
|
|
103,912
|
|
|
93,377
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
37,035
|
|
|
34,336
|
|
|
111,298
|
|
|
105,582
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and
marketing
|
|
23,637
|
|
|
23,934
|
|
|
69,858
|
|
|
69,468
|
|
General and
administrative
|
|
6,236
|
|
|
6,301
|
|
|
20,675
|
|
|
22,187
|
|
Research and
development
|
|
5,413
|
|
|
5,550
|
|
|
16,952
|
|
|
17,364
|
|
Other expenses,
net
|
|
305
|
|
|
5,613
|
|
|
811
|
|
|
5,039
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
35,591
|
|
|
41,398
|
|
|
108,296
|
|
|
114,058
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
(loss)
|
|
1,444
|
|
|
(7,062)
|
|
|
3,002
|
|
|
(8,476)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial income,
net
|
|
29
|
|
|
-
|
|
|
299
|
|
|
6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
tax on income
|
|
1,473
|
|
|
(7,062)
|
|
|
3,301
|
|
|
(8,470)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxes on income (tax
benefit)
|
|
885
|
|
|
(536)
|
|
|
2,221
|
|
|
(155)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
588
|
|
|
$
(6,526)
|
|
|
$
1,080
|
|
|
$
(8,315)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per
share
|
|
$
0.02
|
|
|
$
(0.18)
|
|
|
$
0.03
|
|
|
$
(0.23)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per
share
|
|
$
0.02
|
|
|
$
(0.18)
|
|
|
$
0.03
|
|
|
$
(0.23)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
34,711
|
|
|
36,395
|
|
|
34,755
|
|
|
36,609
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
34,891
|
|
|
36,395
|
|
|
34,936
|
|
|
36,609
|
|
Syneron Medical
Ltd.
|
|
Unaudited Condensed
Consolidated Balance Sheets
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
December
31,
|
|
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
50,262
|
|
$
56,330
|
|
Short-term bank
deposits
|
|
342
|
|
357
|
|
Available-for-sale
marketable securities
|
|
19,063
|
|
14,274
|
|
Trade receivable,
net
|
|
52,657
|
|
53,423
|
|
Other accounts
receivables and prepaid expenses
|
|
12,870
|
|
12,438
|
|
Inventories
|
|
46,682
|
|
49,352
|
|
|
|
|
|
|
|
Total current
assets
|
|
181,876
|
|
186,174
|
|
|
|
|
|
|
|
Long-term
assets:
|
|
|
|
|
|
Severance pay
fund
|
|
474
|
|
509
|
|
Long-term deposits
and others
|
|
274
|
|
292
|
|
Long-term
available-for-sale marketable securities
|
|
13,228
|
|
15,695
|
|
Investment in
affiliated company
|
|
19,800
|
|
19,800
|
|
Property and
equipment, net
|
|
12,173
|
|
9,823
|
|
Deferred
taxes
|
|
21,244
|
|
20,363
|
|
Intangible assets,
net
|
|
9,442
|
|
12,694
|
|
Goodwill
|
|
18,257
|
|
21,442
|
|
|
|
|
|
|
|
Total long-term
assets
|
|
94,892
|
|
100,618
|
|
|
|
|
|
|
|
Total
assets
|
|
$
276,768
|
|
$
286,792
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
stockholders' equity
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
|
$
14,999
|
|
$
23,045
|
|
Deferred
revenues
|
|
14,053
|
|
12,481
|
|
Other accounts
payable and accrued expenses
|
|
32,781
|
|
36,316
|
|
|
|
|
|
|
|
Total current
liabilities
|
|
61,833
|
|
71,842
|
|
|
|
|
|
|
|
Long-term
liabilities:
|
|
|
|
|
|
Contingent
consideration liability
|
|
878
|
|
878
|
|
Deferred
revenues
|
|
3,082
|
|
3,395
|
|
Warranty
accruals
|
|
1,342
|
|
861
|
|
Accrued severance
pay
|
|
563
|
|
603
|
|
|
|
|
|
|
|
Total long-term
liabilities
|
|
5,865
|
|
5,737
|
|
|
|
|
|
|
|
Stockholders'
equity:
|
|
209,070
|
|
209,213
|
|
|
|
|
|
|
|
Total liabilities and
stockholders' equity
|
|
$
276,768
|
|
$
286,792
|
|
Syneron Medical
Ltd.
|
|
Unaudited
Condensed Consolidated Statements of Cash Flows
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
For the
nine-months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
|
|
|
|
|
2016
|
|
|
2015
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
|
$
1,080
|
|
|
$
(8,315)
|
|
|
Adjustments to
reconcile net loss to net cash
used by operating activities:
|
|
|
|
|
|
|
|
|
Share-based
compensation
|
|
|
2,749
|
|
|
2,811
|
|
|
Depreciation and
amortization
|
|
|
5,900
|
|
|
6,645
|
|
|
Impairments of
goodwill and intangible assets
|
|
|
-
|
|
|
5,613
|
|
|
Realized loss,
changes in accrued interest and amortization
of premium (discount) on marketable securities
|
|
|
500
|
|
|
474
|
|
|
FMV adjustment to
investment in Illuminage Beauty JV
|
|
|
1,964
|
|
|
(630)
|
|
|
Revaluation of
contingent liability
|
|
|
-
|
|
|
56
|
|
|
Net gain from sale of
a subsidiary
|
|
|
(1,149)
|
|
|
-
|
|
|
Changes in operating
assets and liabilities:
|
|
|
|
|
|
|
|
|
|
Trade receivable,
net
|
|
|
938
|
|
|
1,655
|
|
|
|
Inventories
|
|
|
1,575
|
|
|
(15,420)
|
|
|
|
Other accounts
receivables and prepaid expenses
|
|
|
159
|
|
|
(763)
|
|
|
|
Deferred
taxes
|
|
|
(678)
|
|
|
(1,141)
|
|
|
|
Accounts
payable
|
|
|
(9,153)
|
|
|
(4,741)
|
|
|
|
Deferred
revenues
|
|
|
899
|
|
|
1,197
|
|
|
|
Accrued warranty
accruals
|
|
|
739
|
|
|
(1,517)
|
|
|
|
Other accounts
payable and accrued expenses
|
|
|
(3,610)
|
|
|
(5,208)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided
by (used in) operating activities
|
|
|
1,913
|
|
|
(19,284)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
Purchases of property
and equipment
|
|
|
(3,288)
|
|
|
(3,636)
|
|
|
Purchases of
Intangible asset
|
|
|
(150)
|
|
|
-
|
|
|
Proceeds from the
sale or maturity of marketable securities
|
|
|
22,012
|
|
|
26,899
|
|
|
Purchase of
marketable securities
|
|
|
(24,810)
|
|
|
(18,274)
|
|
|
Proceeds from
short-term bank deposits, net
|
|
|
15
|
|
|
6,051
|
|
|
Investment in
affiliated company
|
|
|
(1,960)
|
|
|
-
|
|
|
Other investing
activities
|
|
|
4,320
|
|
|
(29)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided
by (used in) investing activities
|
|
|
(3,861)
|
|
|
11,011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
Acquisition of shares
held by non-controlling interest
|
|
|
(1,088)
|
|
|
-
|
|
|
Repurchase of shares
from shareholders
|
|
|
(3,925)
|
|
|
(8,916)
|
|
|
Proceeds from
exercise of stock options
|
|
|
-
|
|
|
2,097
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
financing activities
|
|
|
(5,013)
|
|
|
(6,819)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange
rates on cash and cash equivalents
|
|
|
893
|
|
|
(776)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net decrease in
cash and cash equivalents
|
|
|
(6,068)
|
|
|
(15,868)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at beginning of period
|
|
|
56,330
|
|
|
57,189
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at end of period
|
|
|
$
50,262
|
|
|
$
41,321
|
|
Syneron Medical
Ltd.
|
|
Reconciliation of
Unaudited Condensed GAAP to Non GAAP financial measures
|
|
(in thousands, except
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the
three-months ended
|
|
For the
nine-months ended
|
|
|
|
September
30,
|
|
|
September
30,
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
2016
|
|
|
2015
|
|
|
2016
|
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
|
$
37,035
|
|
|
$
34,336
|
|
|
$
111,298
|
|
|
$
105,582
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based
compensation
|
|
40
|
|
|
49
|
|
|
107
|
|
|
149
|
|
Amortization of
intangible assets
|
|
900
|
|
|
1,010
|
|
|
2,700
|
|
|
3,030
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross
profit
|
|
$
37,975
|
|
|
$
35,395
|
|
|
$
114,105
|
|
|
$
108,761
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating income
(loss)
|
|
$
1,444
|
|
|
$
(7,062)
|
|
|
$
3,002
|
|
|
$
(8,476)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based
compensation
|
|
970
|
|
|
979
|
|
|
2,749
|
|
|
2,811
|
|
Amortization of
intangible assets
|
|
1,056
|
|
|
1,468
|
|
|
3,400
|
|
|
4,416
|
|
FMV adjustment to
investment in JV
|
|
-
|
|
|
-
|
|
|
1,960
|
|
|
(630)
|
|
Re-measurement of
contingent consideration
|
|
-
|
|
|
-
|
|
|
-
|
|
|
56
|
|
Impairments of a
subsidiary's goodwill and intangible assets
|
|
-
|
|
|
5,613
|
|
|
-
|
|
|
5,613
|
|
Legal settlements and
related fees
|
|
-
|
|
|
260
|
|
|
-
|
|
|
1,656
|
|
Net gain from sale of
a subsidiary
|
|
305
|
|
|
-
|
|
|
(1,149)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating
income
|
|
$
3,775
|
|
|
$
1,258
|
|
|
$
9,960
|
|
|
$
5,446
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss)
|
|
$
588
|
|
|
$
(6,526)
|
|
|
$
1,080
|
|
|
$
(8,315)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based
compensation
|
|
970
|
|
|
979
|
|
|
2,747
|
|
|
2,811
|
|
Amortization of
intangible assets
|
|
1,056
|
|
|
1,468
|
|
|
3,400
|
|
|
4,416
|
|
FMV adjustment to
investment in JV
|
|
-
|
|
|
-
|
|
|
1,960
|
|
|
(630)
|
|
Re-measurement of
contingent consideration
|
|
-
|
|
|
-
|
|
|
-
|
|
|
56
|
|
Impairments of a
subsidiary's goodwill and intangible assets
|
|
-
|
|
|
5,613
|
|
|
-
|
|
|
5,613
|
|
Legal settlements and
related fees
|
|
-
|
|
|
260
|
|
|
-
|
|
|
1,656
|
|
Net gain from sale of
a subsidiary
|
|
305
|
|
|
-
|
|
|
(1,149)
|
|
|
-
|
|
Tax
benefit
|
|
(256)
|
|
|
(856)
|
|
|
(852)
|
|
|
(1,637)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income
|
|
$
2,663
|
|
|
$
938
|
|
|
$
7,186
|
|
|
$
3,970
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per share
|
|
$
0.02
|
|
|
$
(0.18)
|
|
|
$
0.03
|
|
|
$
(0.23)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based
compensation
|
|
0.03
|
|
|
0.03
|
|
|
0.08
|
|
|
0.08
|
|
Amortization of
intangible assets
|
|
0.03
|
|
|
0.04
|
|
|
0.10
|
|
|
0.12
|
|
FMV adjustment to
investment in JV
|
|
-
|
|
|
-
|
|
|
0.06
|
|
|
(0.02)
|
|
Re-measurement of
contingent consideration
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Impairments of a
subsidiary's goodwill and intangible assets
|
|
-
|
|
|
0.15
|
|
|
-
|
|
|
0.15
|
|
Legal settlements and
related fees
|
|
-
|
|
|
0.01
|
|
|
-
|
|
|
0.05
|
|
Net gain from sale of
a subsidiary
|
|
0.01
|
|
|
-
|
|
|
(0.03)
|
|
|
-
|
|
Tax
benefit
|
|
(0.01)
|
|
|
(0.02)
|
|
|
(0.02)
|
|
|
(0.04)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per share
|
|
$
0.08
|
|
|
$
0.03
|
|
|
$
0.22
|
|
|
$
0.11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) per share
|
|
$
0.02
|
|
|
$
(0.18)
|
|
|
$
0.03
|
|
|
$
(0.23)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based
compensation
|
|
0.03
|
|
|
0.03
|
|
|
0.08
|
|
|
0.08
|
|
Amortization of
intangible assets
|
|
0.03
|
|
|
0.04
|
|
|
0.10
|
|
|
0.12
|
|
FMV adjustment to
investment in JV
|
|
-
|
|
|
-
|
|
|
0.06
|
|
|
(0.02)
|
|
Re-measurement of
contingent consideration
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Impairments of a
subsidiary's goodwill and intangible assets
|
|
-
|
|
|
0.15
|
|
|
-
|
|
|
0.15
|
|
Legal settlements and
related fees
|
|
-
|
|
|
0.01
|
|
|
-
|
|
|
0.05
|
|
Net gain from sale of
a subsidiary
|
|
0.01
|
|
|
-
|
|
|
(0.03)
|
|
|
-
|
|
Tax
benefit
|
|
(0.01)
|
|
|
(0.02)
|
|
|
(0.02)
|
|
|
(0.04)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per share
|
|
$
0.08
|
|
|
$
0.03
|
|
|
$
0.22
|
|
|
$
0.11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
34,711
|
|
|
36,395
|
|
|
34,755
|
|
|
36,609
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
|
34,891
|
|
|
36,672
|
|
|
34,936
|
|
|
37,059
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/syneron-medical-reports-third-quarter-2016-revenue-of-715-million-300359721.html
SOURCE Syneron Medical Ltd.