NEWS: Zeltiq Aesthetics Inc. shares skyrocketed in extend trading Wednesday after the body-fat reduction company's third quarter came in well ahead of market expectations and it raised its full-year revenue forecast.
DETAILS: The company, based in Pleasanton, Calif., makes products tied to its cooling technology. Its first commercial product is the CoolSculpting System, which it says is designed to reduce fat that doesn't respond to diet or exercise.
NUMBERS: Zeltiq posted a loss of $2.8 million, or 8 cents per share, for the quarter that ended Sept. 30. That is compared with a loss of $5.2 million, or 15 cents per share, in the same quarter last year. Revenue jumped 64 percent to $29.5 million from $17.9 million.
Analysts polled by FactSet were anticipating a loss of 19 cents per share on revenue of $21.6 million.
FUTURE: The company said it now expects its full year revenue will increase 40 percent from the prior year. That's up from its prior forecast of a 20 percent gain year-over-year. Based on its 2012 revenue of $76.2 million, it latest forecast suggests revenue of $106.7 million, beating analyst forecasts of $92.5 million.
STOCK: Shares of the Pleasanton, Calif., company soared 27 percent to $12.45 in after-hours trading following the report. Its stock fell 1 cent to close regular trading at $9.80 but has been climbing fairly steadily since this spring.
- Investment & Company Information