BURLINGTON, Mass., April 3 /PRNewswire-FirstCall/
Palomar Medical Technologies Inc (Nasdaq: PMTI) today announced that the
Palomar EsteLux(TM) light-based system revenues doubled for the first quarter
ended March 31, 2002 over prior quarter revenues and total product revenues
increased 35 percent over the first quarter ended March 31, 2001. Due to the
wide market acceptance of the EsteLux system, along with the three
interchangeable hand pieces -- each adding an additional functionality -- the
demand has exceeded the expectations of management and favorably increased
gross margin and revenue. Total revenue including royalties for the first
quarter ended March 31, 2002 is expected to increase by approximately 20% and
the loss should be reduced by more than half as compared to the corresponding
quarter in 2001, based on preliminary shipment information.
(Photo: http://www.newscom.com/cgi-bin/prnh/20000308/PMTILOGO )
About Palomar Medical Technologies Inc: Palomar is the leading researcher
and developer of laser/light based systems for hair removal and other cosmetic
treatments and is the first company to obtain clearance from the FDA for
"permanent hair reduction." Palomar systems have been installed in practices
worldwide, and hundreds of thousands of treatments have been performed. New
and exciting indications are being tested to further advance the hair removal
market and other cosmetic applications including fat reduction, acne treatment
and skin rejuvenation.
To get more information regarding Palomar and its products, please visit
Palomar's web site at http://www.palmed.com. Also, to continue to receive the most
up-to-date information and latest news on Palomar as it happens, sign up to
receive automatic e-mail alerts by going to the e-mail alerts page in the
Investor Relations' section of the web site.
With the exception of the historical information contained in this
release, the matters described herein contain forward-looking statements,
including but not limited to statements relating to new markets, development
and introduction of new products, and financial projections that involve risk
and uncertainties that may individually or mutually impact the matters herein,
and cause actual results, events and performance to differ materially from
such forward-looking statements. These risk factors include, but are not
limited to, results of future operations, technological difficulties in
developing or introducing new products, the results of future research, lack
of product demand and market acceptance for current and future products, the
effect of economic conditions, the impact of competitive products and pricing,
governmental regulations with respect to medical devices, including whether
FDA clearance will be obtained for future products, the results of litigation,
potential infringement of third-party intellectual property rights, and/or
other factors, which are detailed from time to time in the company's SEC
reports, including the report on Form 10-K for the year ended December 31,
2001. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date hereof. The company
undertakes no obligation to release publicly the result of any revisions to
these forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Contacts:
Paul S. Weiner
Palomar Medical Technologies Inc
781-993-2411
ir@palmed.com
Rob Weir (Investors)
Allen & Caron Inc
212-691-8087
robw@allencaron.com
SOURCE Palomar Medical Technologies, Inc.
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Related links:
http://www.palmed.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20000308/PMTILOGO
PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/107555.html
CONTACT:
Paul S. Weiner of Palomar Medical
Technologies Inc, +1-781-993-2411, ir@palmed.com; or Rob Weir
(Investors) of Allen & Caron Inc, +1-212-691-8087,
robw@allencaron.com
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