BURLINGTON, Mass., May 31 /PRNewswire-FirstCall/ -- Palomar Medical
Technologies Inc (Nasdaq: PMTI), a leading researcher and developer of light-
based systems for cosmetic treatments, today announced their inclusion in
BusinessWeek's Annual List of 100 "Hot Growth Companies" ranking number four
on the list of 100 best small companies. According to BusinessWeek, the
elimination process begins by sorting through a database of 2,200 publicly
traded companies whose revenues are in the range of $50 million to $1.5
billion a year and ranking those companies by sales and earnings growth, as
well as return on capital over three years. Those companies who under perform
the NASDAQ composite are eliminated, as well as those who recently released
disappointing earnings. The top 100 companies make BusinessWeek's "Hot Growth"
list.
Palomar Chief Executive Officer, Joseph P. Caruso commented, "We are
pleased to be included on such a prestigious list. Our accomplishments and
business strategies are being recognized by both the financial community and
the public. We have been able to execute an aggressive growth strategy
resulting in revenue increases of 57% and profit increases of 216% over the
past year. We also continue to balance our current business expansion with our
long term objective of driving our technology to the mass consumer markets
with Gillette and Johnson and Johnson, our development partners. Our
technology provides simple, safe and effective light-based cosmetic treatments
and is perfectly positioned to address the ever growing trend in society to
look and feel younger. These new methods of treatment can provide cosmetic
results that are much greater than any previous technology and are capable of
addressing multi-billion dollar markets. Our thanks to our employees and
shareholders for supporting our vision and helping to achieve each milestone,
including being number four of America's top 100 best small companies!"
BusinessWeek's cover story "Hot Growth Companies" is available online at
http://www.businessweek.com and at newsstands.
About Palomar Medical Technologies Inc:
Palomar is a leading researcher and developer of light-based systems for
cosmetic treatments. Palomar pioneered the optical hair removal field, when,
in 1997, it introduced the first high-powered laser hair removal system. Since
then, many of the major advances in light-based hair removal have been based
on Palomar technology. There are now millions of light-based cosmetic
procedures performed around the world every year in physician offices,
clinics, spas and salons. Palomar is testing many new and exciting indications
to further advance the hair removal market and other cosmetic applications.
Palomar is uniquely focused on developing proprietary light-based technology
for introduction to the mass markets. Palomar has an agreement with The
Gillette Company (NYSE: G) to develop and potentially commercialize a patented
home-use, light-based hair removal device for women, and an agreement with
Johnson & Johnson Consumer Companies to develop and potentially commercialize
home-use, light-based devices for reducing or reshaping body fat including
cellulite, reducing the appearance of skin aging, and reducing or preventing
acne. For more information on Palomar and its products, visit Palomar's
website at http://www.palomarmedical.com. To continue receiving 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 website.
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, challenges in managing joint ventures and
research with third parties and government contracts, 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, difficulties in collecting royalties,
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,
2004 and the Company's quarterly reports on Form 10-Q. 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:
Investor Relations
Palomar Medical Technologies Inc
781-993-2411
ir@palomarmedical.com
SOURCE Palomar Medical Technologies Inc
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Related links:
http://www.palmed.com
Company News On-Call:
http://www.prnewswire.com/comp/107555.html
CONTACT:
Investor Relations of Palomar Medical
Technologies Inc, +1-781-993-2411, ir@palomarmedical.com
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