Thermage, Inc. (THRM) Announces Second Quarter 2008 Financial Results
Source: http://Blog.QualityStocks.net/?p=11696Posted on Tuesday, August 12th, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Thermage, Inc. (NASDAQ: THRM), a company engaged in the design, development, manufacture and marketing of radiofrequency-based equipment and disposable products for non-invasive treatment of wrinkles in the United States and internationally, recently announced its financial results for the second quarter ended June 30, 2008. Revenue for the second quarter of 2008 totaled $17.9 million, a year-over-year increase of 2 percent from $17.5 million for the same quarter one-year earlier.
The average selling price of treatment tips increased 12 percent over the second quarter in 2007. Additionally, international revenue climbed 10 percent over the past 12 months, which partially offset by a 4 percent decline in domestic revenue. Revenue for the first six months of 2008 reached $34.1 million, up 4 percent from $32.7 million for the prior-year period. The company reported a net loss of $198,000, or $0.01 per share for the first half of the year, compared to a net income of $1.4 million, or $0.06 per diluted share, during the first half of 2007.
Despite the net loss for the year thus far, senior management remains extremely excited about the company’s pending acquisition of Reliant, one of the market leaders in skin tightening, skin resurfacing and complementary technologies. Reliant reported revenue of $22.6 million during the second quarter of 2008, a 19 percent year-over-year increase. Excluding the Reliant transaction, management maintains its previously announced financial guidance of total revenue in the range of $67 million to $70 million for the year.
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