Candela Posts Record Quarter in Profits and Revenues

WAYLAND, Mass., Aug. 17 -- Candela Corp. reported a record breaking fourth quarter for revenues and profits, due in part to the popularity of its GentleLASE hair removal device and several fourth-quarter orders for the Vbeam -- a device used in vascular treatments.
The company reported revenues of $22.4 million for the final three months of 2000 ended July 1, compared with revenues of $18.7 million for the same 1999 period, an increase of 20 percent. For the entire fiscal year 2000 the company reported $75.4 million in revenues, compared with $58.6 million last year, a 29 percent increase. Net income was $4.9 million, or $0.40 per diluted share, for this year's fourth quarter. Net profits for last year's fourth quarter were $3.3 million, or $0.33 per share.
Income before taxes for fiscal year 2000 was $14.6 million, or $1.19 per diluted share, while profits during the 1999 fiscal year reached only $7.5 million, or $0.82 per share. Income before tax increased 65 percent over the comparable quarter a year earlier and 85 percent for the entire fiscal year.