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Palomar Medical Reports Financial Results for Third Quarter 2008
Date:10/30/2008

heet continues to be strong and includes $128 million in cash and cash equivalents.

Chief Executive Officer Joseph P. Caruso commented, "We were able to achieve many of the milestones we set for ourselves this quarter even in the face of a downturn in the global economy. Total revenues were up as compared to the previous quarter with stable pricing and gross margin. During the quarter, we also started shipping our newest platform system, the Aspire with the laser lipolysis SlimLipo body sculpting system. Some of these first systems were shipped to training sites established around the world. The feedback has been excellent and we expect to benefit greatly from these sites."

Mr. Caruso continued, "We were also pleased with the victory of the Candela lawsuit in Texas. The jury found in our favor against Candela and also invalidated all of the claims of their patent at issue in the case. This was a very expensive suit for us and we are glad to have the costs associated with it behind us."

Use of Non-GAAP Financial Measures

To supplement Palomar's consolidated financial statements presented in accordance with GAAP, this news release uses the following measures defined as non-GAAP financial measures by the SEC: non-GAAP income before taxes, non-GAAP provision for income taxes, non-GAAP net income, and non-GAAP diluted earnings per share. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. In addition, the non-GAAP financial measures included in this news release may be different from, and therefore not comparable to, similar measures used by other companies. For more information on these non-GAAP financial measures, please see the non-GAAP data included below. This data has more details of the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliat
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SOURCE Palomar Medical Technologies, Inc.
Copyright©2008 PR Newswire.
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