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Executive Laser Report
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Ophthalmic Laser Highlights
Financial News
Coherent’s 4Q09 financial results showed net sales of $107.6 million compared to $142.0 million in 4Q08.
Ellex extended its current banking facility with Westpac Banking Corporation. Under the agreement, Ellex refinanced its core debt facility with Westpac to September 30, 2011.
Iridex’s 3Q09 financial results, which ended October 3, showed a net profit of $0.6 million, or $0.07 per diluted share, compared to a net loss of $0.2 million or $0.03 per diluted share for 3Q08.
LaserSight will turn over substantially all of its assets to a creditor.
Staar Surgical generated $464,000 in cash from operating activities during the third quarter, the largest amount from operating activities for any quarterly period in the past six years.
TearLab’s 3Q09 financial results showed net revenues of $263,221 compared to $96,849 in 2Q09 and $23,900 for 3Q08.
TLC Vision’s 3Q09 financial results showed a 10% drop compared to 3Q08, with refractive revenues showing a decline of 22%.
Other News
The Environmental Protection Agency (EPA) gave Bausch & Lomb’s world headquarters in Rochester, NY, the Energy Star rating for energy efficiency.
Carl Zeiss Meditec released new software advances for the Atlas Corneal Topography System at the American Academy of Optometry meeting in Orlando, FL.
Australia’s regulatory agency for medical drugs and devices gave CustomVis approval for its presbyopia treatment.
The Ellex 2RT research program was awarded an A$0.54 million Victorian Government grant to conduct a clinical trial investigating the efficacy of laser treatment for age-related macular degeneration (AMD).
Lumenis is starting a clinical study to look at the efficacy of Selective Retina Therapy (SRT) in diabetic macular edema (DME).
Medical/Surgical Laser Highlights
Financial News
American Medical Systems had 3Q09 revenue of $123.2 million, a 4.9% increase from $117.5 million in 3Q08.
Biolase Technology’s 3Q09 financial results showed net revenue of $12.1 million compared to $15.3 million in 3Q08.
Cardiogenesis’ 3Q09 financial results showed $2,134,000 in net revenues, an 18% decrease from 3Q08 net revenues of $2,618,000.
Cutera’s 3Q09 financial results showed a revenue increase of 4% to $12.2 million compared to $11.7 million in 2Q09.
Dusa’s 3Q09 financial results showed a 21% increase in product revenue compared to 3Q08.
El.En. SpA’s 3Q09 financial results showed a 35.3% drop in revenue compared to 3Q08.
IPG Photonics’ 3Q09 financial results showed that revenue and net income were down significantly.
NovaMed’s 3Q09 results showed that total net revenue grew 8% to $38,768,000 from $36,050,000 in 3Q08.
Palomar’s 3Q09 financial results showed revenues of $14.5 million.
PLC Systems’ 3Q09 financial results showed that total revenues were $1,023,000, down from $1,598,000 in 3Q08. The net loss for 3Q09 was $358,000, or $0.01 per diluted share, compared to a net loss of $285,000, or $0.01 per diluted share, in 3Q08.
Solta Medical’s 3Q09 financial results showed that revenue was in-line with the preliminary forecast given on September 28. 3Q09 revenue was $17.8 million, an increase of approximately $4.7 million, or 36%, compared to 3Q08, reflecting increased revenue as a result of the acquisition of Reliant Technologies in December 2008 and partially offset by production and regulatory approval delays on new products during the third quarter.
Syneron’s 3Q09 financial results showed a small increase in revenues compared to 3Q08.
Other News
The Department of Justice is investigating Abbott’s sales and marketing of the anti-seizure drug Depakote.
Biolase launched the Diolase 10 Diode Laser for therapeutic applications including temporary pain relief.
Lutronic introduced the Mosaic CO2, a full-featured fractional CO2 device priced at under $50,000. The company also introduced a 1444 nm wavelength pulsed laser, AccuSculpt.
Palomar introduced the Groove Optic for the Lux2940 fractional handpiece.
QLT settled its litigation with the General Hospital Corporation (Massachusetts General Hospital). It will pay $20 million to MGH as payment in full for all past and future royalty obligations under the License Agreement between QLT and MGH, in exchange for the dismissal with prejudice of MGH’s lawsuit against QLT.
Solta Medical launched its Fraxel re:store Dual laser system in Europe.
The FDA gave 510(k) clearance to Vascular Solutions’ GuideLiner catheter.
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