To all: PMTI first quarter earnings out today. Any comments?
BEVERLY, Mass., May 10 /PRNewswire/ -- Palomar Medical Technologies,
Inc. (Nasdaq: PMTI) today announced that revenues for the first quarter
ended March 31, 1996, increased 48 percent to $5,306,491, compared with
revenues of $3,569,619 during the three months ended March 31, 1995.
Palomar also reported an expected loss for the quarter ended March 31,
1996, of ($5,552,263), or a loss of ($0.29) per share.
Steven Georgiev, chairman and chief executive officer of Palomar,
said, "Palomar's first quarter financial results are in line with what
we anticipated and do not include the revenue from Tissue Technologies,
Inc., which we recently acquired. Upcoming quarterly results will
include Tissue Technologies' financial figures from this year. The
first quarter results include substantial expenditures associated with
pre-production expenses in preparation for large-scale laser production,
marketing and sales expenses related to the initial market introduction
of several new electronic products, and acquisition expenses associated
with the Tissue Technologies merger."
Georgiev continued, "We are pleased with our continuing strategy of
expanding our revenue base through joint partnerships, licensing
agreements, product development, and acquisitions, enabling us to offer
the broadest line of medical lasers in the industry."
Palomar Medical Technologies, Inc., is a leading supplier of
proprietary laser systems for medical, dermatological and cosmetic laser
treatments. Palomar's Electronics Corporation focuses on advanced
electronic packaging and the development, manufacturing, and sale of
specialty electronic products.
PALOMAR MEDICAL TECHNOLOGIES, INC.
(Amounts in thousands, except per share data)
Three Months Ended March 31
1996 1995
Revenues $5,306 $3,570
Net income (loss) ($5,552) ($1,459)
Net income (loss) per share ($0.29) ($0.16)
Weighted average number of shares used in
computation of per share net income 20,237 9,401
CO: Palomar Medical Technologies, Inc.
ST: Massachusetts
IN: MTC
SU: ERN
05/10/96 14:49 EDT |
