Citing low cosmetic surgery product sales, ArthroCare (ARTC) said it expects third-quarter earnings to fall below analyst estimates. The company, which produces medical equipment and supplies, sees third quarter EPS of between 12 to 14 cents. A First Call/Thomson Financial survey of seven analysts produced an earnings estimate of 19 cents a share.
The company also expects third-quarter sales of $17 to $18 million. ArthroCare's shares were recently down $10.88, or 35.2%, to $20.