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Cutera's CEO Discusses Q1 2012 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 should not rely on them in making an investment decision without considering the risk 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 the company's most recently filed 10-Q, filed on May 10, 2012, 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.

Kevin P. Connors

Thank you, John. Good afternoon, everyone, and thanks for joining us today to discuss Cutera's results for the first quarter ended March 31, 2012. On today's call, I'll provide an overview of our company performance, and then Ron Santilli, our CFO, will provide an overview of our financial results. Finally, I'll provide some closing comments and open the call to your questions.

We are pleased with the first quarter revenue growth of 35%. Our U.S. revenue increased by 50%, and international revenue improved by 27% compared to the first quarter of 2011. This revenue improvement was a direct result of the following key initiatives. The first key contributor to our revenue growth in the first quarter was the sales management changes that we successfully implemented a year ago. Our North American sales management team under the leadership of Michael Poole, has been executing effectively, and their strategies are generating improved performance. The 27% international growth was primarily driven from expansion in Canada, Japan and Australia. The second key contributors are the 2 most recent new product introductions, GenesisPlus and Excel V. Both of these products are continuing to be well-received by the market and are playing a strong role in our revenue growth.

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