Cytek Biosciences Inc reports results for the quarter ended in September 30 - Earnings Summary

Cytek Biosciences

06/11/2024 04:35

* Cytek Biosciences Inc  CTKB.OQ  reported quarterly
adjusted
earnings of 1 cent​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported breakeven earnings per share.  The mean expectation of
six analysts for the quarter was for a loss of one cent per
share. Wall Street expected results to range from -3 cents
tozero cents per share.
    * Revenue rose 7.3% to $51.50 million from a year ago;
analysts
expected $50.70 million. 
    * Cytek Biosciences Inc's reported EPS for the quarter was 1
cent​.
    * The company reported quarterly net income of $941
thousand.
    * Cytek Biosciences Inc shares had fallen by 6.1% this
quarter and
lost 43.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.1%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the advanced
medical
equipment & technology peer group is also "buy"

Wall Street's median 12-month price target for Cytek Biosciences
Inc is $8.00 
This summary was machine generated from LSEG data November 6 at
04:35 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      -0.01          0.01           Beat
 Jun. 30 2024      -0.03          -0.08          Missed
 Mar. 31 2024      -0.04          -0.05          Missed
 Dec. 31 2023      0.00           0.04           Beat