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Palomar Medical Technologies Q2 2010 Earnings Conference Call Transcript

During the second quarter, we opened an office in Tokyo, Japan. We have hired direct sales and marketing staff as well as set up people or peer capability with service technicians. This office will not only service the Japanese market but helps support our office in other Asian countries.

We continue to focus on executing our diversified strategy by addressing the professional light-based aesthetic market today, working -- driving our technology directly to the consumer market and capitalizing on the value of our extensive client portfolio. This business model has enabled us to invest more in research and development than our competitors and we will continue to do so. We experienced an increase in revenue as compared to the same period last year.

Quarterly revenue over the past four quarters has remained relatively constant indicating that we may have reached the stability point in this difficult economy. Even with this lower level of revenue, we were able to achieve good gross margins during the quarter. Average selling prices also remained stable for our products. Paul will give us more detail during his comments in just a few minutes on the financial results for the quarter.

This year at the American Academy of Dermatology meeting in Miami, we launched a new platform system called Addison. It is positioned to penetrate the ever growing skin rejuvenation market. It combines the best of our non-ablative and ablative fractional laser technologies with total facial IPL technology; this combination of technologies can be used to provide my other treatments, plutonium texture up to the more aggressive fractional ablated laser treatments for wrinkles. Physicians are able to have the multiple tools they need for an overall best in class treatment protocol depending on individual age, skin condition, potential down time, and financial constraints at even more attractive price point.

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