This strong topline performance was especially significant in light of the typical summer month seasonality in the third quarter and the ongoing macroeconomic uncertainty worldwide.
We were able to achieve strong results in spite of these headwinds because of our unmatched global channel of marketing capabilities including continued cross selling, strong brand recognition, trusted scientific innovation and unrelenting focus on our customers and the patients we serve.
International markets grew 29% during the quarter led by growth across all geographies. We expect this momentum to continue as we have a solid combination of strong partners, market acceptance and relationships with key thought leaders on a global basis.
North America also presented a significant revenue growth of 27% year-over-year. This was driven by strong sales of Syneron and Candela products, particularly the recently launched GentleLASE PRO and increased sales of consumables driven by the utilization of the Syneron product line.Consumable revenue increased 53% year-over-year demonstrating that our products are being well received by physicians and their patients. Overall recurring revenue, which also includes service revenue grew 22%, represented approximately of 32% of total PAD sales.EBU revenue in the quarter was $5 million up nearly 500% compared to the prior year and representing 9% of this quarter’s revenues. Non-GAAP gross margin was 52.6% in the quarter, up from 52.3% in the prior year.In our Professional Aesthetic Devices or PAD segment, non-GAAP operating income was $4.8 million or 9.3% operating margin. This is a very positive indicator that we are successfully increasing gross margin and managing operating expenses.On the bottom line we achieved our fourth consecutive quarter of non-GAAP profitability with earnings per share of $0.03. This demonstrates our ability to effectively balance the growth of the profitable PAD segment with our investments in the rapidly expanding EBU segment.Turning now to an operational update, I want to first highlight two new very exciting next generation products. In October we launched the new eTwo platform which brings together two of Syneron’s most innovative and successful applications in a single system for non-invasive fractional skin resurfacing and wrinkle reduction.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV