HAYWARD, Calif., Aug. 2, 2011 /PRNewswire/ -- Solta Medical, Inc. (NASDAQ: SLTM), a global leader in the medical aesthetics market, today announced results for the second quarter ended June 30, 2011. Second quarter 2011 revenue was $29.0 million, compared to $30.1 million in the same period last year. Revenue from the sales of treatment tips and consumables grew 10% as compared to the second quarter of 2010, and accounted for 55% of total revenue.
GAAP net loss for the quarter was $0.2 million, or approximately breakeven per share, as compared to GAAP net income of $1.5 million, or $0.02 per diluted share, for the second quarter of 2010. Non-GAAP net income for the quarter was $1.4 million, or $0.02 per diluted share, as compared to non-GAAP net income of $3.8 million, or $0.06 per diluted share, for the same period last year. The previous year’s GAAP and non-GAAP operating results included a gain on litigation settlement of $2.2 million.
Solta Medical’s GAAP results for the second quarter include non-cash amortization and other acquisition related charges of $0.8 million and, non-cash stock based compensation charges of $0.8 million. The Company provides 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.
“Sales of our treatment tips and consumables were up year-over-year in every region around the world and resulted in an improvement to our gross margin as compared to last year’s second quarter. We also produced our seventh consecutive quarter of non-GAAP operating income,” said Stephen J. Fanning, Chairman, President, & CEO. “New system sales of our flagship Fraxel re:store Dual® and Thermage CPT® systems grew by double-digits in the quarter. In addition, we achieved double-digit product re
|SOURCE Solta Medical, Inc.|
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