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Solta Medical Reports First Quarter Results
Date:5/3/2011

HAYWARD, Calif., May 3, 2011 /PRNewswire/ -- Solta Medical, Inc. (NASDAQ: SLTM), a global leader in the medical aesthetics market, today announced results for the first quarter ended March 31, 2011. Revenue for the first quarter was $26.5 million, a 2% increase as compared to the first quarter of 2010. Revenue from the sales of treatment tips and consumables grew 18% as compared to the first quarter of 2010, and accounted for 63% of total revenue.  As a result of the strong treatment tip and consumable revenue growth, gross margin as a percentage of revenue on both a GAAP and non-GAAP basis rose year-over-year by over 350 basis points to 68% and 72%, respectively.

GAAP net loss for the quarter was $1.0 million as compared to GAAP net loss of $1.9 million reported for the first quarter of 2010. Non-GAAP net income for the quarter was $0.7 million or $0.01 per diluted share as compared to non-GAAP net income of $0.8 million, or $0.01 per diluted share for same period last year.

Solta Medical's GAAP results for the first quarter include non-cash amortization and other acquisition related charges of $1.1 million and non-cash stock based compensation charges of $0.7 million. The Company provides additional non-GAAP financial measures that exclude these charges and expenses. A reconciliation of GAAP to non-GAAP results is provided in the tables included in this release.

"The strength of our unique recurring revenue business model was evident again in our first quarter performance," said Stephen J. Fanning, Chairman, President & CEO.  "Our Thermage®, Fraxel®, and Isolaz® brands continue to be the aesthetic procedures that consumers request by name and the procedures physicians perform by choice.  At the same time, our first quarter performance was impacted by the earthquake and resulting crises in Japan."  

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SOURCE Solta Medical, Inc.
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