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Cutera's CEO Discusses Q2 2011 Results - Earnings Call Transcript

Also, management may make additional forward-looking statements in response to your questions. These forward-looking statements do not guarantee future performance and therefore, you shall 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 August 1, 2011, 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 second quarter ended June 30, 2011. On today's call, I'll provide an overview of our company's performance. Then Ron Santilli, our CFO, will provide an overview of our financial results. Finally, I will provide some closing comments and open the call to your questions.

We are pleased with the 22% revenue growth achieved during the past quarter when compared to the second quarter of 2010. This improvement is a direct result of key initiatives associated with realigning our U.S. sales organization and recent new product introductions. In April, our GenesisPlus system received an FDA clearance for toenail fungus. As a result, we focused our sales and marketing efforts related to this product on the approximate 15,000 podiatrists in the United States. We received Health Canada clearance for toenail fungus in July of this year, which we expect will contribute to our third quarter performance. We are encouraged with the early market response over GenesisPlus product, which can be promoted for toenail fungus, warts and other procedures. With the recently granted FDA clearance, we believe PSS, our distribution partner in the United States, who has a strong channel in the podiatry specialty market, will enable us to expand our presence. We also believe that dermatologists are interested in this product, as there is significant patient demand for the treatment of this condition.

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