The company does not assume any obligation to update the forward-looking statements discussed in today’s conference call.
Finally, this presentation includes non-GAAP financial measures. Syneron provides reconciliation information at the end of the first quarter results press release on the Investor Relation’s page at www.Syneron.com.
Speaking on the call today are Syneron’s CEO, Louis Scafuri and Syneron’s CFO, Asaf Alperovitz. Shimon Eckhouse, Syneron’s Chairman of the Board, is also on the call and will be available for questions during the Q&A portion at the conclusion of management’s prepared remarks.
Now, I’d like to turn the call over to Lou.Louis Scafuri
Thank you, Zack, and welcome to Syneron’s first quarter 2012 conference call. The first quarter was a great start to the year for Syneron with new levels of record revenue. Underpinning these results was a strong adoption of our recent new product launches and the completion of the acquisition of Ultrashape. Ultrashape is a key strategic move for us that provides immediate entry into the attractive and high-growth body contouring market segment for the non-invasive fat cell destruction. Other strategic moves in the quarter include the enhancement of our technology pipeline and intellectual property portfolios through our acquisition of Transformer Medical and our equity investment in Juvenis. These major initiatives add to our existing pipeline of new products in both professional aesthetic device and emerging business unit segments. Each initiative offers a significant opportunity to expand our product offering and drive top-line growth. We will maximize these opportunities by leveraging our worldwide infrastructure, strong channel-to-market capabilities to strive our innovative science-based aesthetics products suite to market. I’d like to offer a brief overview of our financial results followed by a review of some of the key drivers in the PAD and EBU segments to the quarter and beyond. Total revenue in the first quarter 2012 was $62.7 million, up 26% over the prior year; another record quarter for Syneron. This marks our seventh consecutive quarter of double-digit year-over-year sales growth.