Candela Profits Double On Record Revenues; Company Reports Record Orders Led by Its New Vbeam Product.Business/Technology Editors WAYLAND Wayland, town (1990 pop. 11,874), Middlesex co., E Mass., W of Boston; settled c.1638, inc. 1835. Electronic and chemical research is carried on there. , Mass.--(BUSINESS WIRE)--April 19, 2000 Candela candela (kăndĕ`lə), in weights and measures: see candle. A unit of measurement of the intensity of light. Part of the SI system of measurement, one candela (cd) is the monochromatic radiation of 540THz with a radiant intensity Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CLZR) announced today that it had posted record revenues and profits for its third fiscal quarter ending April 1, 2000. For the three months ending April 1, 2000, the Company reported net profits of $3.7M and earnings per share of $0.30. Revenues for the period were $19.2M. For the same period a year earlier, the Company had profits of $1.9M and earnings per share of $0.21 on revenues of $15.8M. For the nine month period ending April 1, 2000, the Company reported net profits of $9.6M and earnings per share of $0.82 on revenues of $53.0M. For the same period a year earlier, the Company reported profits of $4.2M and earnings per share of $0.48 on revenues of $39.9M. Commenting on the results, Gerard Gerard is a male forename of Germanic origin, variations of which exist in many Germanic and Romance languages. The name derives from Old Germanic 'ger' ('spear') and 'hard' ('hard/strong/brave'). Its meaning is 'strong/brave with the spear'. E. Puorro, President and Chief Executive Officer, stated: "Not only was this a quarter of record revenues and profits, but of total orders as well. The market response to our new product offering, Vbeam(TM), has exceeded even our own expectations, and we are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. with such a response." About Candela Candela Corporation develops, manufactures, and distributes innovative clinical solutions that enable physicians, surgeons Below follows a list of surgeons:
1. pertaining to cosmesis. 2. a beautifying substance or preparation. cos·met·ic n. and medical conditions See carpal tunnel syndrome, computer vision syndrome, dry eyes and deep vein thrombosis. using lasers, aesthetic laser systems and other proven technologies. Founded near Boston Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. in 1970, Candela markets and services its products in over 40 countries from offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe Europe (y  r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). and Asia. Candela established the aesthetic laser market 11 years
ago. Candela has an installed base of over 4,000 lasers worldwide.
Candela is an Equal Opportunity and Affirmative Action affirmative action, in the United States, programs to overcome the effects of past societal discrimination by allocating jobs and resources to members of specific groups, such as minorities and women. Employer,
M/F/H/V M/F/H/V Male/Female/Handicapped/Veteran (employment) . For more information about Candela, visit the company's
web site at http://www.clzr.com.
This press release includes certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Any such statements are subject to risks that could cause the actual results to vary materially, including negative developments relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc unforeseen order cancellations or push-outs, Candela's strategic relationships, the impact of intense competition, and changes in the laser industry.
CANDELA CORPORATION (Nasdaq: CLZR)
Condensed Consolidated Statements of Operations (unaudited)
(amounts in thousands, except per share amounts)
For the three For the nine
months ended: months ended:
April 1, March 27, April 1, March 27,
2000 1999 2000 1999
Revenue $ 19,207 $ 15,844 $ 53,026 $ 39,881
Cost of sales 7,785 6,820 22,356 18,993
Gross profit 11,422 9,024 30,670 20,888
Operating expenses:
Research and
development 1,432 933 3,616 2,381
Selling, general and
administrative 5,681 4,586 15,809 12,131
Total operating expenses 7,113 5,519 19,425 14,512
Income from operations 4,309 3,505 11,245 6,376
Other income (expense):
Interest income 398 29 1,034 60
Interest expense (120) (136) (364) (377)
Other income (expense) 42 (21) 163 91
Total other
income (expense) 320 (128) 833 (226)
Income before
income taxes 4,629 3,377 12,078 6,150
Provision for
income taxes 972 1,470 2,460 1,940
Net income $ 3,657 $ 1,907 $ 9,618 $ 4,210
Basic earnings
per share $ 0.33 $ 0.23 $ 0.90 $ 0.51
Diluted earnings
per share $ 0.30 $ 0.21 $ 0.82 $ 0.48
Weighted average
shares outstanding 11,179 8,248 10,648 8,230
Adjusted weighted average
shares outstanding 12,280 9,252 11,738 8,762
CANDELA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)
(dollars in thousands)
April 1, July 3,
2000 1999
Assets
Current assets:
Cash and cash equivalents $ 32,929 $ 10,055
Accounts receivable, net 16,882 12,337
Notes receivable 1,298 2,186
Inventories 8,071 6,927
Other current assets 1,582 928
Total current assets 60,762 32,433
Property and equipment, net 2,573 2,626
Other assets 3,760 1,392
Total assets $ 67,095 $ 36,451
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 4,364 $ 4,846
Accrued payroll and related expenses 2,382 3,735
Accrued warranty 2,822 2,502
Income taxes payable 3,451 3,185
Restructuring reserve 1,157 1,519
Other accrued liabilities 1,975 1,132
Current portion of long-term debt 13 415
Deferred income 3,655 1,913
Total current liabilities 19,819 19,247
Long-term debt 3,018 3,181
Stockholders' equity
Common stock 114 56
Additional paid-in capital 39,930 18,562
Accumulated earnings (deficit) 5,772 (3,846)
Cumulative translation adjustment (1,558) (749)
Total stockholders' equity 44,258 14,023
Total liabilities and
stockholders' equity $ 67,095 $ 36,451
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