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Cutera CEO Discusses Q4 2010 Results - Earnings Call Transcript

These forward-looking statements do not guarantee future performance, and therefore you should not rely on them in making an investment decision without considering the risks associated with such statements. Cutera also cautions you to not place undue reliance on forward-looking statements, which speak only as of the date they were made. Cutera undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.

For a complete list of risk factors that could cause Cutera's actual results to differ materially from the forward-looking statements, please refer to the section entitled Risk Factors in our most recent 10-Q filed on November 1, 2010, with the Securities and Exchange Commission.

With that, I'll turn the call over to the company's President and Chief Executive Officer, Mr. Kevin Connors. Go ahead Kevin.

Kevin Connors

Thank you, John. Good afternoon, everyone, and thanks for joining us today to discuss Cutera's results for the fourth quarter ended December 31, 2010. On today's call, I'll provide an overview of our results, and then Ron Santilli, our CFO, will provide additional details on our operating and financial results. Finally, I will provide some closing comments and open the call to your questions.

Our fourth quarter and annual 2010 revenue remained flat compared to the same period in 2009. During the fourth quarter of 2010, US revenue increased by 9% compared to the fourth quarter of 2009. This growth was primarily the result of improvements associated with the initiative discussed in the past few quarters, including the launch of our new Genesis Plus product, and improved productivity in our domestic sales force.

We are pleased to show this growth and are focused on initiatives to increase our revenue in the US in 2011 and beyond. Our international business declined 7% compared to the fourth quarter of 2009. We experienced growth in most of our international markets, however, Australian volume was especially strong in the fourth quarter of 2009 due to the special tax incentive. This is the primary reason for the comparative decline in the fourth quarter of 2010.

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