Warren B. Seiler III, MD
John Di Saia, MD
Beatriz H. Porras, MD
Shervin Naderi, MD, FACS
Edward Zimmerman MD
Paula Di Marco Young, BS RN
Seth A. Yellin, MD FACS
Dr. Kevin D. Light
Stephen Weber MD PhD
Brian K. Sidella
Sabine Zenker, MD
Daniel Kaufman MD
Brian Howard MD FACS
Mickey A. Couvertier
Lila Bratani MD
Alex Denes MD FACP
3 CommentsThermage tightens it's own skin.
From the 'its tough all over' front, Thermage (Solta Medical) reports a loss
Solta Medical, Inc. (SLTM: News Thermage) reported fourth quarter net loss of $15.04 million or $0.57 per share, compared to net income of $990 thousand or $ 0.04 per share in the same quarter of last year.
Non-GAAP net loss for the quarter was $3.50 million or $0.13 per share, compared to net income of $2.08 million or $0.08 per share in the year ago quarter.
Net revenues for the quarter declined to $9.55 million from $16.58 million in the prior year quarter.
On a pro forma combined basis as if the acquisition of Reliant Technologies was effective as of October 1, 2008, revenue for the fourth quarter would have been $20.1 million, which is based on Thermage standalone revenue of $8.7 million and Reliant standalone revenue of $11.4 million. This compares to revenue for both companies of $35.5 million in the fourth quarter of 2007 on a pro forma combined basis.
Reader Comments (3)
I have a suspicion that Solta Medical is going to be no different than Thermage, inc. Their financial misfortune is a product of short sightedness and greed in its management.
I recently acquired a second hand Thermage unit and was gearing up to perform the procedure in an area of Virginia where it is not presently offered (a derm here in town had offered it, but stopped because of poor patient interest). I was willing to put out a little cash to market the device because I believe the new protocols are really effective. I even had a patient scheduled. I ran into a road block however when I was told by Thermage that I MUST give them $8000 to "inspect" my machine before they would sale me the necessary tips. This despite the fact that I gave them the serial number for my machine and it was confirmed that it was up to date on upgrades and service while in the hands of the original owner. They kept trying to get me to bring in their NXT device, insisting that the older machine was obsolete. The machine is not obsolete, with many, many more NT's in service than NXT. It is just a blatant example of the company's short sighted greed and a failure to partner with the physician in a long term goal that would benefit both parties.
I refuse to give Solta $8000 so I can begin using my time, effort, and more money to purchase their tips. Good luck to that bunch! Any one know where I can buy the refurbished tips.
VA MD, You should go right back to the physician who sold you the Thermage. If doctors realize that their Thermage device is basically worth $8000 less than they can sell it for there won't be much of a line to buy the things. I thought Thermage made all of their money on the tips? I guess not.
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