Palomar Medical Technologies, Inc. Message Board

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Biotech / Medical : Palomar Medical Technologies, Inc.

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To: BMALONEY who wrote (568)	10/1/1997 9:49:00 AM
From: Spank	of 708

from wsj: Palomar Medical Technologies Inc., Beverly, Mass., seeking to shed non-core businesses and concentrate on its core cosmetic laser products, said it will take a $23 million restructuring charge in the third quarter ended yesterday. The company also said it expects a $14 million operating loss for the quarter. For the year-earlier quarter, Palomar reported a loss of $3.9 million on revenue of $24.6 million. Palomar said the restructuring charge includes $21 million in non-cash charges all related to non-core businesses. Also included is a $2 million reserve for severance costs stemming from consolidating several functions. Yesterday's announcement was made after the market closed. In Nasdaq Stock Market trading, Palomar shares closed at $3, down 1/32.

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