Palomar Announces Financial Results for Fourth Quarter and 2012 Fiscal Year

The laser and light-based systems manufacturer Palomar Medical Technologies, Inc., announced its latest financial results for 2012. In contrast to its reported loss of $1.9 million in 2011, the business had a net income of $2.3 million in its fourth quarter figures for 2012.

The organisation’s product revenues, gross margins, and local and international revenues were all up in the fourth quarter. In its 2012 year-over-year figures, the company had a net loss of $6.2 million, compared with $7.4 million in income in 2011.

Product revenues, gross margin, North American revenues, and international revenues all recorded an increase in the 2012 year-over-year figures.

Joseph P. Caruso, the organisation’s CEO, stated that Palomar was pleased with the results. Caruso revealed that the fourth quarter was the first quarter in which the business had reported a profit since the global recession, with the exception of the third quarter of 2011.

The business continues to follow through with new technology investments and product development in aesthetic light consumer devices, including the creation of products such as the Vectus hair removal laser.

Source: http://www.marketwatch.com/story/palomar-medical-reports-financial-results-for-fourth-quarter-and-fiscal-year-2012-2013-02-07

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