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ZELTIQ Aesthetics Announces Fourth Quarter And Full Year 2012 Financial Results

Stocks in this article: ZLTQ

Provides Full Year 2013 Guidance

  • Fourth quarter and full year 2012 revenue of $18.6 million and $76.2 million, respectively, compared to $18.8 and $68.1 million for the fourth quarter and full year 2011, respectively
  • Consumable revenue of $9.0 million or 48% of total revenue for the fourth quarter 2012 compared to $7.2 million or 38% of total revenue for the fourth quarter 2011
  • Installed 120 systems in the fourth quarter 2012, up 13% from the third quarter 2012, bringing total system installed base to 1,483 systems as of December 31, 2012, up 53% compared to 967 as of December 31, 2011
  • Cycles shipped increased 25% to 75,172 for the fourth quarter 2012, compared to 60,250 for the fourth quarter 2011, and down 3% sequentially compared to 77,500 cycles shipped for the third quarter 2012
  • $58.6 million cash & cash equivalents, short-term and long-term investments as of December 31, 2012 compared to $66.9 million as of September 30, 2012

PLEASANTON, Calif., March 12, 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, today announced financial results for the fourth quarter and full year ended December 31, 2012.

Mark Foley, President and Chief Executive Officer, said, "Our fourth quarter revenue of $18.6 million was up slightly from the preliminary announcement we made in early January. As part of our ongoing business and team restructuring, we implemented a number of changes in the fourth quarter designed to improve our execution and better position the Company to take advantage of the significant market opportunity ahead. This included putting in place a new and experienced management team, restructuring and realigning our sales infrastructure, and refining our sales and marketing strategy. Although these significant changes were disruptive to our business in the near term, we believe they were necessary in order to drive more consistent growth in both system sales and consumable revenue over the long term."

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