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

We continue to expand the clinical research for our Excel V vascular system, as this require support for successfully penetrating core physicians. During the second quarter, we commenced revenue shipments and are pleased with the response from global key opinion in leaders of vascular surgery as well as our customers and expect this to be an important part of our future revenue growth. As a reminder, we believe this to be a premier vascular system in this market, as it provides practitioners an ability to treat all vascular conditions both on the face and body. The Excel V was designed with input from thought leaders in dermatology and plastic surgery.

Shifting to our revenue distribution, we are pleased to experience a balanced geographic mix. In the United States, we are pleased with the initiatives that our sales management are driving, as a result of which experienced 19% growth in the United States in the second quarter 2011. We believe our strengthened team in the United States has us well positioned for continued top line growth. We currently have 27 sales territories in the United States and Canada.

Our business outside the United States grew 24% in the second quarter 2011 when compared to the same period in 2010, with particularly strong performance from Canada, Australia and our network distributors in the Asia Pacific and European markets. We are encouraged with an apparent rebound of our Japanese business, given the uncertainty associated with the March disaster.

During the second quarter, we continued to have success in combining Cutera products and upgrades with the filler and cosmeceutical products with Merz and Obagi. These filler and cosmeceutical products continue to complement our laser and light-based products and have provided us with a growing and recurring revenue stream.

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