Cutera sees FY18 EPS 50c-60c, consensus $1.03
Backs FY18 revenue view of $178 to $181 million, an 18% - 20% increase over 2017. Consensus is $178.2M. We are adjusting full year gross margin expectations to be in the range of 53% to 54% of total revenue. This adjustment incorporates previously discussed infrastructure investments, the timing of realizing operational improvements, and the impact from second quarter's global sales mix, along with an expectation that gross margin will improve in the second half of 2018 compared to the first half of 2018; GAAP operating expenses are expected to be in the range of 56% to 57% of 2018 revenue, due to additional non-cash stock-based compensation and the continued investment in the scalability of our operations.