TARRYTOWN, N.Y., Jan. 23 /PRNewswire/ -- Aerolase Corporation, a leading manufacturer of next-generation portable lasers for aesthetic skin treatments, today announced that sales increased dramatically in 2008 over 2007. The company's unique product offerings in the aesthetic laser market helped to more than offset current economic conditions, according to Aerolase executives.
"December 2008 was a record sales month for Aerolase, and 2008 overall represented strong revenue growth with continued gains in Aerolase brand equity," said Dr. Pavel Efremkin, CEO. The company also reported that Q4 2008 revenues increased 119% compared with the corresponding period in 2007, and full-year 2008 revenues increased 76% vs. 2007.
"We are specifically pleased with increased popularity of our leading laser products -- LightPod Neo(TM) and LightPod Era(TM) which perform the full range of popular aesthetic laser skin treatments, including pain-free hair removal, facial skin rejuvenation, skin tightening, spider veins and other vascular lesion removal, scar reduction, treatment of pigmented lesions, acne clearance, tattoo reduction and many others."
In addition, the ASP (average selling price per laser) for LightPod lasers in 2008 increased 14% vs. 2007. "There is a clear and powerful trend of Primary Care Physicians (PCPs) actively adding medical aesthetic treatments to the scope of their regular medical practices," he said. "This trend is based on the increasing demand for rejuvenation from the aging population, who now actively seek these services from their trusted medical providers. The resulting new cash income is highly attractive for these PCPs whose economic circumstances continue to erode, thanks especially to declining reimbursement rates from medical insurers."
Sales to PCPs fueled the growth of Aerolase in 2008, with over half of its sales going into this market segment. The core segment of dermatologists and plastic surgeons is still active for Aerolase, representing about one third of revenues.
"The segment of over 300,000 U.S. PCPs is a huge market opportunity for Aerolase," says Mitchell S. Stern, managing director of SMH Capital Inc., a subsidiary of Sanders Morris Harris Group (Symbol SMHG), which is a financial adviser to Aerolase. "As so many PCPs are just starting medical aesthetic practices, the Nd:YAG 1064nm laser is a natural first choice as it is a must-have laser modality for any aesthetic practitioner -- and the LightPod Neo is clearly the best YAG laser available for this market segment due to its unique combination of high efficacy, exceptional versatility and safety, and a very affordable price. We are very pleased to have Aerolase as our client as it is not easy to find a high growth, high margin company in today's challenging environment," Stern said.
Aerolase Corporation, Tarrytown, NY, is a world leader in the miniaturization of high-powered medical lasers. This core technology has been commercialized in the fields of medical & aesthetic dermatology as well as capillary blood testing and diabetes management. The company's LightPod(R) lasers cover most aesthetic laser procedures on all skin types as well as many medical treatments. Aerolase lasers are packaged in the innovative LightPod system which utilizes air, rather than water, to continuously cool the internal laser emitter; this patented breakthrough resulted in a laser system that is portable and maintenance-free, also inherently less costly to manufacture and therefore more affordable. For more information, visit www.aerolase.com.
About SMH Capital Inc.
SMH Capital is a registered broker-dealer and a subsidiary of Sanders Morris Harris Group (Nasdaq: SMHG) (member FINRA/SIPC). Sanders Morris Harris Group is a financial services holding company headquartered in Houston that manages approximately $10.3 billion in client assets. The subsidiaries and affiliates of Sanders Morris Harris Group deliver superior wealth advisory, asset management, and capital markets services to individual and institutional investors and middle-market companies. Its operating entities are Dickenson Group, Edelman Financial Center, Salient Partners, Salient Trust Co. LTA, SMH Capital, SMH Capital Advisors, Select Sports Group, and The Rikoon Group. Sanders Morris Harris Group has over 600 employees in 21 states. Additional information is available at http://www.smhgroup.com.
|SOURCE Aerolase Corporation|
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