• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
    • Cardiovascular
    • Orthopedics
  • Wall Street Beat
    • Funding Roundup
    • Mergers & Acquisitions
  • Podcasts & Webinars
    • Podcasts
    • Webinars
  • Resources
    • About MassDevice
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech 100 Index
    • Videos
    • Whitepapers
  • DeviceTalks Tuesdays
  • Coronavirus: Live updates
Home » Palomar’s non-royalty revenues jump 300% in Q3

Palomar’s non-royalty revenues jump 300% in Q3

October 26, 2012 By MassDevice staff

Palomar logo

Palomar Medical (NSDQ:PMTI) made big strides in its professional product revenues during the 3 months ended Sept. 30, 2012, but stayed in the red for the quarter.

The Burlington, Mass.-based aesthetic medical device maker reported a net loss of $4.7 million, or 25¢ per share, on sales of $18.5 million for the 3 months ended Sept. 30.

That compares with earnings $15.3 million, or 81¢ per share, on sales of $46.1 million during the same period last year, when the figures were bolstered by $31.6 million in royalty revenues stemming from a lawsuit against Syneron Medical Ltd. (NSDQ:ELOS).

Excluding the effect of those royalties, Q3 2012 revenues got a 300% boost.

“We are very pleased with the continued growth of our professional business as we expand our product portfolio and make key investments in our distribution network,” CEO Joseph Caruso said in prepared remarks.

Professional product revenues were $13.0 million, up 25% for the 12th consecutive quarter of year-over-year growth, Caruso added.

“The in-market experience has given us valuable learning that we will incorporate into our consumer strategy in the future. We have also developed core diode and diagnostic technologies and manufacturing capabilities as part of the PaloVia development project that we have already incorporated into and will continue to use to improve our professional products like the Vectus laser, the Skintel reader, the Palomar Emerge fractional laser and other products planned for launch next year,” he said.

Syneron Medical settled a patent spat with Palomar in September 2011, agreeing to pay $31 million plus royalties to license patents covering PMTI’s laser- and light-based hair removal technologies.

PMTI shares opened today at $8.63 and were down 0.7% to $8.48 as of about 2:45 p.m.

Filed Under: Cosmetic/Aesthetic, MassDevice Earnings Roundup, News Well, Wall Street Beat Tagged With: 2012, Palomar Medical Technologies Inc., Q3, Syneron Medical Ltd.

In case you missed it

  • Getinge anesthesia systems recall is Class I
  • RefleXion closes $125M debt facility
  • Senseonics announces equity grants to employees
  • New data backs Aerin’s RhinAer for treating chronic rhinitis
  • Enovis completes Insight Medical acquisition
  • Orchestra BioMed to go public, partner with Medtronic on cardiac neuromodulation therapy
  • Memic Innovative Surgery is now Momentis Surgical
  • Lyra Therapeutics appoints new chief medical officer
  • Masimo’s SafetyNet monitoring reduced length of COVID-19 hospital stays, study says
  • CeQur is launching a discreet, convenient ‘wearable insulin pen’
  • Teva appoints former Vertex exec as new head of R&D, CMO
  • Enovis partners with Kelvi on hot and cold therapies
  • West Pharmaceutical Services debuts new needle syringe system
  • Titan Medical names Cary G. Vance as new president, CEO
  • Acutus completes first closing in left-heart access portfolio sale to Medtronic
  • FDA clears Intuitive, Siemens Healthineers imaging integration for robotic bronchoscopy
  • FDA backs COVID-19 boosters with BA.4/5 spike proteins for fall

RSS From Medical Design & Outsourcing

  • DeviceTalks Boston 2022: Here’s what you missed on the show floor
    At DeviceTalks Boston 2022, there was a wealth of expertise to be had from exhibitors including Viant, ICS, PSN Labs, Propel and more. From stories of overcoming challenges during the COVID-19 pandemic to medical device materials pitfalls to avoid, MassDevice and MDO executive editor Chris Newmarker hit the DeviceTalks Boston show floor to discover insights. […]
  • Supply Chain EVP Greg Smith sees fewer suppliers in Medtronic’s future
    All eyes are on Medtronic’s global operations and supply chain leader as he works to modernize its operations and scrutinize suppliers. EVP of Global Operations and Supply Chain Greg Smith anticipates fewer suppliers in Medtronic’s future, he said in an interview this week. Smith spoke with DeviceTalks Editorial Director Tom Salemi in his first published… […]
  • CeQur is launching a discreet, convenient ‘wearable insulin pen’
    CeQur designed its Simplicity device to make insulin delivery as seamless as possible for people with diabetes. When it comes to managing diabetes, CeQur wants to make insulin therapy as convenient as possible. For those who prefer to manage their own insulin delivery, the Simplicity device might just do exactly that. Simplicity, a wearable, disposable… […]
  • Meddux opens new facility in Colorado
    Engineering, design, development and manufacturing company Meddux announced that it opened a new facility in Boulder, Colorado. The new, 22,000-square-foot facility doubles the overall square footage from its previous location in Colorado. According to a news release, it helps the company to quadruple its product development area and double its manufacturing footprint. Meddux’s new facility… […]
  • Reducing the Overall Cost of Validation
    By PTI Engineered Plastics Reliable medical devices and equipment are essential for researchers and doctors to accurately diagnose and treat a wide range of diseases. That is why there is such stringent oversight from the FDA to ensure these products meet the necessary requirements and specifications. To ensure compliance with regulators, manufacturers follow installation qualification… […]
  • BBS Automation has a deal to buy medtech supplier Kahle Automation
    BBS Automation said it plans to purchase high-speed automation supplier Kahle Automation to expand its medtech and life sciences business. Kahle will operate as Kahle – a BBS Company, according to a news release from Munich, Germany-based BBS and Lombardy, Italy-based Kahle. The deal is subject to regulatory approval. Terms were not disclosed. Kahle’s co-owners —… […]
  • How safe is health information after the overturning of Roe?
    The U.S. Department of Health and Human Services today issued guidance meant to better protect women’s health information as state abortion bans kick in after the U.S. Supreme Court’s overturning of Roe v. Wade. Despite the HHS actions, women may still wonder whether their health information is entirely safe going forward — a potential challenge… […]
  • Dexcom focuses on early diabetes diagnosis as COVID links emerge
    New evidence is showing that COVID-19 may increase a person’s risk of diabetes, but it could be years until we know for sure. In the meantime, Dexcom (Nasdaq:DXCM) is getting ready, VP of Global Clinical Initiatives Tomas Walker said. Walker recently spoke with Medical Design & Outsourcing to discuss the San Diego-based diabetes device developer’s… […]
  • Blackrock Neurotech and Pitt work on first at-home BCI system for remote trials
    Blackrock Neurotech and the University of Pittsburgh’s Rehab Neural Engineering Labs (Pitt RNEL) are working together on the first portable brain-computer interface (BCI) to allow patients to participate in research trials from home. A Blackrock representative said it’s the final step as the company prepares to launch its first commercial product early next year. Salt… […]
  • How medical device companies are responding to abortion bans
    Days after the U.S. Supreme Court’s decision to overturn Roe v. Wade’s protection of abortion rights, medical device companies are among those reassuring workers about healthcare access. Corporate communications to employees and the public at large come as trigger laws in nearly half of the states outlaw abortion immediately. Some medtech companies are not using… […]
  • Philips updates on testing results for recalled ventilators
    Royal Philips (NYSE:PHG) says only a small portion of returned respiratory devices displayed the sound abatement foam degradation that sparked a massive recall. Repeated ozone cleaning may have made the problem worse. Those were some of the major takeaways from an update Philips provided today on a comprehensive test and research program it implemented after its… […]

Leave a Reply

You must be logged in to post a comment.

Primary Sidebar

DeviceTalks Weekly

July 1, 2022
Boston Scientific CEO Mike Mahoney on building a corporate culture that drives high growth results
See More >

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Need Medtech news in a minute?
We Deliver!

MassDevice Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World

Device Talks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our Device Talks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us
Add us on Facebook Follow us on Twitter Connect with us on LinkedIn Follow us on YouTube

Copyright © 2022 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS