This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

PhotoMedex Reports 2012 Fourth Quarter And Record Full Year Financial Results

PhotoMedex, Inc. (NASDAQ and TASE: PHMD) today announced financial results for the fourth quarter and full year ended December 31, 2012. A separate Form 10-K, including 2012 consolidated financial statements, will be filed with the Securities and Exchange Commission on or by March 18, 2013. Financial highlights of the 2012 fourth quarter and full year include:

Fourth Quarter (all comparisons are with the fourth quarter of 2011):

  • Revenues of $54.8 million, an increase of 91%
  • Gross profit of $43.0 million, an increase of 91%
  • Net income of $5.9 million, compared with a net loss of $3.0 million
  • Earnings per diluted share of $0.27, compared with a loss per share of $0.22
  • Consumer revenues of $46.1 million, an increase of 78%
  • Direct-to-consumer channel revenues of $30.0 million, an increase of 67%
  • Global retail and home shopping channel revenues of $12.4 million, an increase of 158%
  • Distributor consumer channel revenues of $3.8 million, an increase of 20%
  • XTRAC ® psoriasis and vitiligo treatment recurring revenues of $2.6 million, an increase of 63%
  • Cash generated from operations of $14.0 million; during the quarter the company repurchased $5.4 million or 418,717 shares of its common stock at an average price of $12.93 per share
  • Cash, cash equivalents and short-term investments as of December 31, 2012 were $62.4 million, or $3.00 per diluted share

Full Year 2012 (all comparisons are with the full year 2011):

  • Revenues of $220.7 million, an increase of 67%
  • Gross profit of $174.0 million, an increase of 64%
  • Net income of $22.5 million, compared with a net loss of $0.7 million
  • XTRAC franchise installed base of 361 sites compared with 268 sites, an increase of 35%
  • Pre-merged PhotoMedex non-GAAP operating income of $1.5 million, compared with an operating loss of $1.8 million
  • Earnings per diluted share of $1.08, compared with a loss per share of $0.06
  • Consumer revenues of $188.4 million, an increase of 50%

On December 13, 2011 Radiancy, Inc. became a majority owned subsidiary of PhotoMedex in a reverse merger. Under generally accepted accounting principles (GAAP), Radiancy is deemed to be the financial acquirer for financial statement purposes. Therefore as a result of purchase accounting rules, the operating results of PhotoMedex for the fourth quarter and full year ended December 31, 2011 include activity from the pre-merged PhotoMedex from December 13 through December 31, 2011.

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs