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Thermage Announces Second Quarter 2008 Financial Results
Date:8/11/2008

Revenue of $17.9 Million

Treatment Tip and Other Consumables Revenue Up 15% Year over Year

Gross Profit Margin of 77%

HAYWARD, Calif., Aug. 11 /PRNewswire-FirstCall/ -- Thermage, Inc. (Nasdaq: THRM), a leader in non-invasive tissue tightening in the aesthetic industry, today reported its financial results for the second quarter ended June 30, 2008.

Revenue for the second quarter of 2008 totaled $17.9 million, an increase of 2% from $17.5 million for the second quarter of 2007. The increase was driven by a 15% increase in revenue from treatment tips and other consumables. During the second quarter, the average selling price of treatment tips was 12% above the prior year's second quarter. International revenue increased 10% over the second quarter of 2007, partially offset by a decline of 4% in domestic revenue.

Gross profit for the second quarter of 2008 was $13.8 million, or 77.1% of revenue, compared with $12.7 million, or 72.5% of revenue, for the same quarter of 2007. Net income for the second quarter was $2.0 million, or $0.08 per diluted share. This compared with $1.3 million in net income in the second quarter of 2007, or $0.05 per diluted share. Non-GAAP(1) net income for the second quarter of 2008 was $3.0 million, or $0.12 per diluted share, compared to non-GAAP(1) net income of $2.5 million, or $0.10 per diluted share, for the prior year period.

Revenue for the six months ended June 30, 2008 was $34.1 million, up 4% from $32.7 million for the prior year period. Loss for the first six months of the year was $198,000, or $(0.01) per share versus net income of $1.4 million, or $0.06 per diluted share. Non-GAAP (1) net income for the first six months
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SOURCE Thermage, Inc.
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