Solta Medical Reports Strong Second Quarter 20...( ...),Health

HAYWARD, Calif., July 30 /PRNewswire-FirstCall/ -- Solta Medical, Inc. (Nasdaq: SLTM), a global leader in the medical aesthetics market, today announced results for the second quarter ended June 30, 2009. Revenue for the quarter was $27.4 million, an increase of approximately $9.5 million, or 53%, as compared to the second quarter 2008 reflecting increased revenue as a result of the acquisition of Reliant Technologies, Inc. on December 23, 2008. The company generated $2.4 million in cash flow from operations during the quarter and achieved profitability.

Solta Medical's reported results for the second quarter of 2009 include non-cash purchase price related charges of $1.4 million and non-cash stock based compensation charges of $0.9 million. The GAAP net income for the quarter including these charges was $0.1 million, or $0.00 per share as compared to a net income of $2.0 million, or $0.08 per share reported for the second quarter of 2008. The non-GAAP net income for the quarter excluding these charges was $2.3 million, or $0.05 per share as compared to a non-GAAP net income of $3.0 million, or $0.12 per share reported for the second quarter of 2008.

"Our second quarter performance further reflects the successful integration of our Reliant acquisition. Our revenue rose sequentially from the previous quarter by $2.2 million, or 9%, while our operating expenses declined from the previous quarter by $2.3 million, or 12%," said Stephen J. Fanning, Chairman of the Board, President and CEO of Solta Medical. "As with the first quarter, international markets accounted for 57% of total revenue. U.S. and international revenues grew sequentially from the first quarter by 10% and 8%, respectively. We also drove sequential revenue growth in the range of 7% to 10% from all major product segments wi
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