BURLINGTON, Mass., July 29, 2010 (GLOBE NEWSWIRE) -- Palomar Medical Technologies, Inc. (Nasdaq:PMTI), a leading researcher and developer of light-based systems for cosmetic treatments, today announced financial results for the second quarter ended June 30, 2010. Revenues for the quarter ended June 30, 2010 were $15.6 million, which represents a 4 percent increase over the $15.0 million reported in the second quarter of 2009. Product and service revenues increased to $13.0 million, an 8 percent increase over the $12.1 million in the second quarter of 2009. Second quarter gross margin from product and service revenues was 63 percent, an increase over the 57 percent in the second quarter of 2009. Loss before income taxes for the second quarter ended June 30, 2010 was $1.7 million, which included a $0.7 million patent litigation expense and a $1.0 million non-cash FAS 123R stock-based compensation expense. The Company reported net loss of $1.7 million, or $0.09 per share for the second quarter of 2010. The balance sheet continues to be strong with $102 million in cash and cash equivalents with no borrowings.
Palomar Medical Reports Financial Results For Second Quarter 2010
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.