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Contract medical procedure provider announces second quarter results.
2004 SEP 2 - (NewsRx.com & NewsRx.net) -- PhotoMedex, Inc., (NASDAQ:PHMD) announced the results of its operations for the quarter ended June 30, 2004.
Revenues for the second quarter ended June 30, 2004, were $4,323,134, an increase of 12.5% over the same period last year and 7.4% increase over the first quarter of 2004.
The net loss for the quarter ended June 30, 2004, was $1,207,167, or $0.03 per diluted share. The net loss for the quarter ended June 30, 2003, was $1,686,102, or $0.05 per diluted share.
The revenue and net loss for the 6 months ended June 30, 2004, were $8,348,364 and $2,570,249, respectively, or $0.07 per diluted share. The revenue and net loss for the 6 months ended June 30, 2003, were $7,316,176 and $3,360,430, respectively, or $0.10 per diluted share.
As of June 30, 2004, the company had cash and cash equivalents of $5,687,975, a decrease of $137,981 from March 31, 2004.
Jeffrey O'Donnell, PhotoMedex CEO and president, commented, "We are pleased with the results of our core business segments, as well as with the recent medical policy approvals put in place for our XTRAC laser therapy system by some of the nation's leading health insurers."
"Our team has accomplished a great deal over this past quarter in terms of expanding the size of our addressable markets and creating a more attractive product offering in those markets," O'Donnell continued. "We are now focused on pure execution and positioning ourselves to build on those successes."
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Source: HighBeam Research, Contract medical procedure provider announces second quarter results.