Shares of PhotoMedex Inc. climbed Tuesday morning after the skin health company reported strong sales during two recent TV home shopping events in the U.S. and U.K., which exceeded the company’s expectations.
The company said U.S. consumers bought 17,400 units of its no!no! Hair product with retail sales totaling almost $3.5 million. Sales exceeded the company’s pre-event expectations and were above a similar home shopping event held in May 2014 by about 4,000 units.
PhotoMedex also said its U.K. event exceeded targeted expectations by selling out all inventory purchased for the event.
In recent morning trade, PHMD was up over 3%, still moving near the lower end of the 52-week range of $1.01 to $12.75. Volume was heavy with over 5.4 million shares changing hands, compared to the average three-month volume of 146,592 shares.