CLZR: This is the little company I mentioned earlier. Great earnings. I don't think this thing is staying at 9 for long.
Thursday April 22, 7:33 am Eastern Time
Company Press Release
Candela Revenue and Profits Soar to Record Levels
WAYLAND, Mass.--(BW HealthWire)--April 22, 1999--Candela Corporation (Nasdaq:CLZR - news), a
leading developer of advanced aesthetic laser systems, reported today that revenues for the third quarter of
the company's 1999 fiscal year rose to a record $15.8 million and that earnings also achieved a record
level of $1.9 million, or $.31 cents per fully diluted share.
For the quarter ending March 27, 1999, the company posted revenues of $15.8 million, up 84% from $8.6 million in the same period a year ago. For
the first nine months of fiscal 1999, the company reported revenues of $39.9 million, compared to $24.9 million in the comparable period last year, an
increase of 60%.
Profits for the quarter reached $1,907,000 or $.31 per fully diluted share compared to a loss of $194,000 or $0.04 for the year earlier quarter. On a
nine-month basis, the company had profits of $4,210,000 and $0.72 per fully diluted share versus a prior year loss of $5,486,000 and $1.00 per
share.
Commenting on the third quarter and year-to-date results, Gerard E. Puorro, Candela's president and chief executive officer, stated: ''Over the past 12
months we have generated $52 million in revenues and our trailing 12-month earnings per share is a healthy $0.90. We have been able to post these
numbers because of our industry-leading technology and our ability to tap into new and expanding markets for our comprehensive line of aesthetic
products.'' Puorro added, ''The efficacy and economics of our product lines has been reaffirmed not only by the fiscal results, but also by the high
level of interest and activity at the Candela booth at the recent meeting of the American Academy of Dermatology (AAD) in New Orleans.'' Puorro
commented further: ''The interest at the AAD for the GentleLASE(TM), our very popular hair removal device and the only model by any manufacturer
currently offering dynamic cooling, continues to grow significantly since its introduction last year.''
A number of recent developments have also contributed to the strong quarter and the company's current financial standing, including: initial shipments
of the company's laser systems to Physician Sales and Service (PSS), Candela's distribution partner for other than its core markets; and the
introduction of the Skintonic(TM), an advanced body and face massage system. ''The Skintonic,'' Puorro noted, ''is the most recent example of how
Candela continues to use technology to drive and expand its business and enhance shareholder value.''
During this same quarter the company was awarded ISO 9001 and EN 46001 registration. ''This'', said Puorro, ''has accelerated the company's
penetration of European markets and increased demand for the GentleLASE, as well as our other laser systems -- the SkinPLUS(TM),
ScleroPLUS(TM), ALEXLAZR(TM), and YAGLAZR(TM).''
Puorro concluded: ''While we are excited and confident, we know that we must maintain product superiority, identify new applications for our
technology, and attain even greater market share both here in the U.S. and abroad. We are optimistic that we have the people and resources in place to
build on the momentum that we've established and to meet these challenges.''
About Candela
Candela Corporation develops, manufactures, and distributes innovative clinical solutions that enable physicians, surgeons and personal care
practitioners to treat selected cosmetic and medical conditions using lasers, cryosurgery and other proven technologies. Founded near Boston in 1970,
Candela markets and services its products in over 40 countries from offices in the United States, Europe and Asia. Candela established the aesthetic
laser market 11 years ago. With an installed base of over 2,000 lasers worldwide, more than 500,000 aesthetic laser procedures are performed
annually with Candela laser systems. For more information about Candela, visit the company's web site at clzr.com. |
