Syneron Medical shares fall on lower 3Q earnings

The Yokneam, Israel-based company's stock sank $1.35, or 14.8 percent, to $7.90.

The company earned $2.2 million, or 8 cents per share, in the period ended Sept. 30, down from $7.9 million, or 28 cents per share, in the same period last year. Revenue fell to $28.5 million from $33.1 million in the third quarter of 2007.

Analysts polled by Thomson Reuters expected earnings of 13 cents per share on revenue of $29.6 million.

Syneron said it's quarterly results were impacted by $900,000 in stock-based compensation expenses. Excluding those charges the company said it would have earned $3.1 million, or 11 cents per share.

The company said sales of devices like Lipolite, which uses lasers to destroy fat cells, were lower due to the economic downturn. Other products from the company are used to treat blemishes without surgery.

"Doctors are postponing decisions to make new capital equipment purchases and credit terms have tightened significantly," said Chief Executive Doron Gerstel.