Candela Gets Waxed

Medical laser manufacturer Candela(CLZR Quote) plunged 19% late Tuesday after the medical laser company missed second-quarter targets.

The Wayland, Mass.-based company earned $1 million, or 4 cents a share, compared with $4.5 million, or 19 cents a share, in the year-ago period. Analysts surveyed by Thomson First Call expected Candela to earn 15 cents a share.

Revenue slipped to $37.4 million from $37.7 million a year ago. Analysts were expecting Candela's top line to reach $42.9 million.

"These results did not meet any of our expectations," said CEO Gerard E. Puorro. "The revenue shortfall forces us to recalibrate those expectations. We previously felt a 15% to 18% growth at the top line for the fiscal year was achievable. That clearly is no longer the case, and now appears to be more in the 7% to 9% range."

Shares plunged $2.16 to $9.74.