We would like to highlight Candela Corp. (NASDAQ: CLZR). The company researches, develops, manufactures, markets, sells, distributes and services laser and light-based systems used to perform aesthetic and cosmetic procedures. The products of the Company focuses on hair removal, non-invasive treatment of facial and leg veins and other benign vascular lesions, treatment of rosacea, removal of benign pigmented lesions such as age spots and sun spots, treatment of scars and stretch marks, wrinkle reduction, treatment of acne and acne scars, treatment of psoriasis, all-color tattoo removal, skin resurfacing and other skin treatments.
In the company’s recent news,
Candela Corporation (NASDAQ: CLZR) reported its financial results for the fourth fiscal quarter and fiscal year ended June 28, 2008. Shares of Candela Corporation posted modest gains earlier this week despite the announcement of a 3.1 percent decrease in revenue to $37.8 million in the fiscal fourth quarter of 2008, compared with $39.0 million in the fiscal fourth quarter of 2007.
Candela Corporation reported a net loss of $2.7 million, or $0.12 per share, for the fourth fiscal quarter versus a net loss of just $727,000, or $0.03 per share, in the corresponding period last year. For the fiscal year, total revenues were stable at $148.2 million, essentially consistent with last year; however, gross profit margin dropped to 45.1 percent from 50.5 percent in the prior year. The company reported a fiscal year-end net loss of $9.1 million, or $0.40 per share, for 2008, compared with net income of $6.3 million, or $0.27 per share, last year.
Gerard E. Puorro, the president and chief executive officer of Candela Corporation, commented on the company’s financials during a recent conference call. He acknowledged that the company had a disappointing fourth quarter and fiscal 2008. Although he expects the company to post a loss in the first quarter of fiscal 2009 and more than likely break even during the second quarter, Mr. Puorro expects a meaningful return to profitability in the third and fourth quarters of fiscal year 2009.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
