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PhotoMedex Inc. Reports Operating Results (10-Q)

May 17, 2010 | About:
10qk

10qk

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PhotoMedex Inc. (PHMD) filed Quarterly Report for the period ended 2010-05-17.

Photomedex Inc. has a market cap of $13.7 million; its shares were traded at around $6.12 with and P/S ratio of 0.42. PHMD is in the portfolios of Jim Simons of Renaissance Technologies LLC.
This is the annual revenues and earnings per share of PHMD over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of PHMD.


Highlight of Business Operations:

For the three months ended March 31, 2010 and 2009, domestic XTRAC laser sales were $128,200 and $638,305, respectively. There were 4 and 14 lasers sold during these periods, respectively. We sell the laser directly to the customer for certain reasons, including the costs of logistical support and customer preference as well as a means of addressing under-performing accounts while preserving the vendor-customer relationship. We believe that we are able to reach, at reasonable margins, a sector of the laser market that is better suited to a sale model than a per-procedure, or consignment, model.

For the three months ended March 31, 2010 revenues were $1,244,373 compared to $1,416,154 in the three months ended March 31, 2009. These revenues are generated from the sale of various skin, hair care and wound products to physicians in the domestic market. Our skincare products are more susceptible to the macro economic conditions than our other products because cosmetic products are more likely to be discretionary and not medically necessary.

For the three months ended March 31, 2010 revenues were $361,571 compared to $271,684 in the three months ended March 31, 2009. These revenues are generated from the sale of various skin, hair care and wound products to distributors in international markets. The increase was due to increased volume with existing distributors.

For the three months ended March 31, 2010, PTL product revenues were $236,505. These revenues are generated from the sale of LED devices. There were 18 LED units sold during the three months ended March 31, 2010. Not included in these revenues were 6 LED units on backorder as of March 31, 2010 due to a delay in the vendor s production of these systems. From the date of acquisition of Photo Therapeutics on February 27, 2009 thru March 31, 2009, revenues from the PTL products were $150,202 representing 8 LED units.

For the three months ended March 31, 2010 revenues from our Skincare products were $481,962 compared to $514,621 in the three months ended March 31, 2009. These revenues are generated from the sale of various skin, hair care and wound and from the sale of copper peptide compound in non-physician related channels. Included in the skincare product revenues for the three months ended March 31, 2009 were $79,920 from bulk compound sales. There were no such sales in the three months ended March 31, 2010.

For the three months ended March 31, 2010 and 2009, PTL product revenues were $298,829 and $407,167, respectively. PTL revenues are generated from the sale of LED devices in the spa and indoor tanning markets and milestone payments on a licensing agreement targeting the mass consumer acne market. Included in the three months ended March 31, 2009, there was a milestone payment of $213,105. There was no such corresponding revenue in the three months ended March 31, 2010.

Read the The complete Report

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