MONTGOMERYVILLE, Pa., April 5, 2012 /PRNewswire/ -- PhotoMedex, Inc. (Nasdaq: PHMD) a leading supplier of advanced clinical skincare and medical laser products, rang the Closing Bell at the NASDAQ stock exchange on Tuesday, a milestone for a company that is poised for continued success and growth in 2012, after a banner year in 2011. On March 30, 2012 Company reported annual revenues increased by 89%, gross profit increased 97% and adjusted net income increased 95%. Revenues for 2011 were $132.1 million.
"We are delighted to ring the NASDAQ Closing Bell in recognition of our 2011 accomplishments our merger with Radiancy, and the 10th anniversary of PhotoMedex," said President and CFO Dennis McGrath.
"This celebratory moment is a great opportunity to recognize our employees, customers, investors and business partners for their support in building PhotoMedex and Radiancy into the category leader we are today," said CEO Dr. Dolev Rafaeli. "With the new efficiencies across management and R&D, we are stronger as one and are powerfully positioned to deliver innovative product solutions to consumers across the aesthetic landscape."
PhotoMedex is a leader in the development of proprietary excimer laser, LED light systems and skin care products for dermatological applications. The company is best known for its in-office laser and light-based solutions, as well as category leading dermatologist-dispensed skincare brand NEOVA®. Radiancy is a leading developer, manufacturer and seller of home-use and professional devices. It is best known for its best-selling no!no! brand of skincare products.
PhotoMedex is a global skin health company providing integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers. The company provides proprietary products and services that address skin diseases and conditions including psoriasis, vitiligo, acne, actinic keratosis (a precursor to certain types of skin cancer) and photo damage. Its experience in the physician market provides the platform to expand its skin health solutions to spa markets, as well as traditional retail, online and infomercial outlets for home-use products. As a result of its December 2011 merger with Radiancy Inc., PhotoMedex has added a range of home-use devices under the no!no! brand, for various indications including hair removal, acne treatment and skin rejuvenation. The company also offers a professional product line for acne clearance, skin tightening, psoriasis care and hair removal sold to physician clinics and spas.
ABOUT Radiancy, Inc.
Radiancy, Inc. is a leader in the medical and aesthetic skin care market. Their core belief that everyone is entitled to quality skin care has driven them to redefine expectations in order to deliver smart skin solutions to the widest range of professionals and consumers possible. Radiancy opened its doors in 1998 with an idea and a vision; to make quality light-based skin care available for everyone. Within a few years, Radiancy revolutionized phototherapy with the introduction of Light & Heat Energy (LHE) technology with their premier system, SpaTouch, offering a safer, more efficient photoepilation process. By 2002, Radiancy had captured an unprecedented 37% of the market share and took its place as a global leader for medical and aesthetic light-based systems. Radiancy then adapted LHE to develop a line of LHE MicroPhototherapy products. Radiancy is also the home of the no!no! family of products.
SOURCE PhotoMedex, Inc.