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Solta Medical Reports Third Quarter 2009 Results
Date:11/3/2009

uarter of 2008. The non-GAAP net loss for the quarter excluding these charges was $4.2 million, or $0.09 per share as compared to non-GAAP net income of $0.7 million, or $0.03 per share reported for the third quarter of 2008.

Financial Goals for 2009

The Company updated its financial goals for 2009 as follows:

  • Revenue for the year in the range of $95 million to $98 million
  • Realize up to $25 million in cost synergies as a result of the acquisition of Reliant Technologies, Inc. This represents an increase of $6 million from the originally stated goal in January 2009 of $19 million in cost synergies.
  • Generate positive EBITDA for the full year 2009
  • Achieve a non-GAAP gross margin in the range of 64% to 66% for the full year 2009 excluding non-cash amortization charges and non-cash purchase price related charges.

Non-GAAP Presentation

To supplement the condensed consolidated financial information presented on a GAAP basis, management has provided non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP EBITDA, non-GAAP net income (loss) and non-GAAP earnings (loss) per share measures that exclude the impact of purchase price related charges, severance costs, merger related costs, extraordinary loss on investments, and stock-based compensation expenses, all net of income taxes. The Company believes that these non-GAAP financial measures provide investors with insight into what is used by management to conduct a more meaningful and consistent comparison of the Company's ongoing operating results and trends, compared with historical results. This presentation is also consistent with management's internal use of the measures, which it uses to measure the performance of ongoing operating results, against prior periods and against our internally developed targets. There are limitations in using these non-GAAP financial measures because they are not prepared in accordance
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SOURCE Solta Medical, Inc.
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