Category: Lasers

Spectranetics' Q4 losses soar

February 22, 2010 by MassDevice staff

Spectranetics Corp. (NSDQ:SPNC) posted fourth-quarter sales of $29.7 million for the three months ended Dec. 31, 2009, up 11.3 percent compared with $26.6 million during the same period in 2008. Net losses widened 425.8 percent to $5.7 million, compared with $1.1 million during Q4 2008:

Palomar takes big hits during Q4, 2009

February 11, 2010 by MassDevice staff

Palomar Medical Technologies Inc. (NSDQ:PMTI) trod a rocky road last year, closing out 2009 with vastly wider net losses and lower sales.

The Burlington, Mass.-based cosmetic laser device maker reported net losses of $8.5 million, or 47 cents per share, on sales of $16.3 million for the three months ended Dec. 31, 2009. That compared with net losses of just $420,000, or 2 cents per share, on sales of $17.2 million during Q4 2008. Palomar said part of the Q4 2009 losses stemmed from a $5.2 million set-aside for income taxes. Excluding that provision, losses before income taxes were $3.3 million.

Candela wins Chinese approval for cosmetic laser devices

February 10, 2010 by MassDevice staff

Candela Corp. won clearance from China's State Food & Drug Administration to bring two of its laser skin treatment devices to market in the People's Republic.

Wayland, Mass.-based Candela, now a subsidiary of Syneron (NSDQ:ELOS), said the SFDA approved its Alex TriVantage and the GentleMax devices for sale in China and Hong Kong. Syneron CEO Louis Scafuri said the Chinese approvals open up the world's largest market for cosmetic procedures.

Cynosure wins patent case, posts wider Q4 sales decline and net losses

February 9, 2010 by MassDevice staff

Cynosure Inc. (NSDQ:CYNO) announced mixed news today, saying it won a patent infringement lawsuit against a competitor but posting a 25 percent fourth-quarter sales slide and soaring net losses.

The Westford, Mass.-based cosmetic device maker reported fourth-quarter sales of $19 million for the three months ended Dec. 31, 2009, down 24 percent percent compared to $25 million during the same period in 2008. Fourth-quarter net losses widened 481.5 percent to $14.5 million, or $1.14 per diluted share, compared with $2.5 million, or 20 cents per diluted share, during Q4 2008.

Volcano Corp. and subsidiary loses court decision against Lightlab Imaging Inc.

February 5, 2010 by MassDevice staff

A Massachusetts Superior Court jury ruled against Volcano Corp. (NSDQ:VOLC) and one of its subsidiaries in a breach of contract lawsuit filed by a Westford, Mass.-based imaging manufacturer.

The jury found that Volcano's Axsun Technologies unit, a Billerica, Mass.-based maker of MEMS-based optical engines for medical imaging products, violated a contract it had signed with Lightlab Imaging Inc. prior to it being acquired by San Diego, Calif.-based medical device maker Volcano in December 2008.

Palomar's laser stretch mark device wins FDA nod

February 4, 2010 by MassDevice staff

The Food & Drug Administration cleared a cosmetic laser device made by Palomar Medical Technologies Inc. (NSDQ:PMTI) for the treatment of stretch marks.

The Burlington, Mass.-based firm said the FDA's nod toward its Lux1540 device is its first clearance of a device to treat striae, or stretch marks, using a fractional laser.

The device is already cleared for non-ablative skin resurfacing and to treat surgical scars, acne scars and melasma, or facial skin discolored from over-exposure to the sun, according to a press release.

Brown Capital trims stake in Palomar

January 28, 2010 by MassDevice staff

After riding a wave last year that more than doubled the value of its stake in Palomar Medical Technologies Inc. (NSDQ:PMTI), a Baltimore money manager decided it's time to take some of its chips off the table.

Brown Capital Management, which manages about $2.2 billion in equity holdings for its clients, sold off about 340,000 shares of Palomar stock between Oct. 1, 2009, and the end of the year, according to recent regulatory filings. Brown likely banked at least $1 million in profit from the transactions, and possibly more — a lot more — if it bought in before the stock spiked from around $11 a share to nearly $18 each back in June 2009.