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Syneron Medical's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: ELOS

Finally, this presentation includes non-GAAP financial measures. Syneron provides reconciliation information at the end of the second 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 P. Scafuri

Thank you Zack, and welcome to Syneron’s second quarter 2012 conference call. We achieved strong financial results in the second quarter, headline by another quarter with record revenue. This was driven by our recent new product launches and the strength of Syneron’s global channel to market capabilities. Clearly our commitments provide a broad range of innovative clinically validated aesthetic products that meet the needs of our customers, it allowing us to win in the marketplace.

During the quarter, we also benefited from better leverage of our fixed cost and infrastructure, particularly in the PAD segment, which drove improved operating margin, profitability for the consolidated business.

I’ll begin today’s call with a brief overview of our financial results followed by a review of the key drivers in the PAD and EBU segments for the second quarter and beyond.

Total revenue in the second quarter 2012 was $68.1 million, up 12% over the prior year; this marks our eighth consecutive quarter of double-digit year-over-year sales growth and our third consecutive quarter of new record revenue level. International sales grew 16% during the second quarter, mainly driven by the strong performance in ENMEA and Asia with eTwo and eLase products continue to perform well.

North American sales were up 5% year-over-year, which was attributable to the temporary delay in obtaining regulatory clearance for the highly anticipated release of the elos Plus Aesthetic Work Station. We obtained a regulatory approval to this important product late in the second quarter and expect to record strong sales of the elos Plus in North America this quarter.

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