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Solta Medical Reports Fourth Quarter and Full Year 2008 Results
Date:2/23/2009

HAYWARD, Calif., Feb. 23 /PRNewswire-FirstCall/ -- Solta Medical, Inc. (Nasdaq: SLTM), a global leader in the medical aesthetics market, today announced financial results for the fourth quarter and full year ended December 31, 2008. Revenue for the fourth quarter was $9.5 million and includes revenue from the sale of Fraxel products post-acquisition of Reliant Technologies, Inc. on December 23, 2008. On a pro forma combined basis as if the acquisition of Reliant Technologies was effective as of October 1, 2008, revenue for the fourth quarter would have been $20.1 million, which is based on Thermage standalone revenue of $8.7 million and Reliant standalone revenue of $11.4 million. This compares to revenue for both companies of $35.5 million in the fourth quarter of 2007 on a pro forma combined basis. On a pro forma combined basis, domestic revenue decreased 42% and international revenue fell 46% from the fourth quarter of 2007.

Gross margin for the quarter was $6.1 million, or 64.4% of revenue. The gross margin includes charges for excess and obsolete inventory of $355,000, loss on disposal of assets of $211,000, purchase price related adjustments from the Reliant acquisition of $263,000, and severance expense of $54,000. Fourth quarter operating expenses were $21.7 million and includes a charge for acquired in-process R&D from the Reliant acquisition of $9.1 million, severance and merger related integration expenses of $1.3 million, stock based compensation charges of $0.9 million, and loss on disposal of assets of $157,000.

The fourth quarter non-GAAP loss before interest, taxes, depreciation and amortization (EBITDA) and excluding the charges related to the Reliant acquisition and stock based compensation was approximately $3.5 million.

"Our fourth quarter results were in-line with the preliminary re
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SOURCE Solta Medical, Inc.
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