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ZELTIQ(R) Aesthetics Announces Fourth Quarter 2012 Preliminary Unaudited Revenue

Stocks in this article: ZLTQ

PLEASANTON, Calif., Jan. 7, 2013 (GLOBE NEWSWIRE) -- ZELTIQ Aesthetics, Inc. (Nasdaq:ZLTQ) a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform, announced today preliminary unaudited estimated revenue for the fourth quarter 2012. ZELTIQ anticipates fourth quarter revenue of approximately $18 million.  The quarterly numbers are prior to the completion of review and audit procedures by the Company's external auditors and are therefore subject to adjustment.

Since the appointment of Mark Foley as President and CEO in August 2012, ZELTIQ has been focused on building a management team that will enhance the Company's execution of its growth strategy in 2013 and beyond. In October 2012, ZELTIQ announced the hire of two aesthetic industry veterans, appointing Len DeBenedictis as Chief Technology Officer and Keith J. Sullivan as Senior Vice President of Worldwide Sales. In November 2012, Patrick F. Williams was appointed Senior Vice President and Chief Financial Officer. 

In conjunction with these additions to the executive team, ZELTIQ also made significant operational changes designed to enable more consistent growth going forward. These changes include a restructuring of the sales and marketing organizations, additional investment in sales personnel, centralization of sales training, messaging and reporting, and a more targeted approach to the Company's marketing strategy.  

Mark Foley, President and Chief Executive Officer, said, "One of our top priorities in Q4 of 2012 was to put in place a management team, sales infrastructure and marketing strategy better designed to drive more consistent growth in both system sales and procedures over the long term. As one of our initial steps, the new management team implemented significant sales and operational changes to help drive future revenue growth and to increase sales force effectiveness. That being said, the significant changes made in the fourth quarter were disruptive to our sales efforts and as such, both systems and procedure revenues were below our expectations." 

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