BURLINGTON, Mass., July 30 /PRNewswire-FirstCall/ -- Palomar Medical Technologies, Inc. (Nasdaq: PMTI - News), a leading researcher and developer of light-based systems for cosmetic treatments, today announced financial results for the second quarter ended June 30, 2009. Revenues for the quarter ended June 30, 2009 were $15.0 million, of which $12.1 million were product revenues, $1.3 million were royalty revenues, $0.4 million were funded development revenues, and $1.25 million were other revenues. Second quarter gross margin from product revenues was 57 percent. Loss before taxes for the second quarter ended June 30, 2009 was $0.3 million, which included approximately $0.2 million in litigation expenses and a $0.8 million non-cash FAS 123R stock-based compensation expense. The Company reported net loss of $0.2 million, or $0.01 per diluted share for the second quarter of 2009. The Company had positive cash flow from operations of $3.6 million and the balance sheet continues to be strong with $112 million in net cash and available-for-sale investments.
