Strong domestic sales boosted Obagi Medical Products Inc.’s second quarter earnings, sending shares up more than 7 percent Monday.
Obagi reported second quarter net income of $3.9 million (18 cents per share) a 254 percent leap from $1.1 million, (6 cents) for the same period a year earlier. The results beat Analysts’ expectations of 16 cents per share, according to Reuters.
Sales for the Long Beach-based prescription skin care products maker were also up 45 percent to $26 million thanks to domestic sales growing 45 percent during the quarter. Wall Street was expecting sales of $25 million.
The company also said that sales to dermatologists jumped more than 32 percent during the quarter.
Shares in Obagi closed up 2 percent, or 35 cents, but continued to gain in after-hours trading adding another 93 cents, or 5.3 percent. Shares have more than doubled so far this year.