Palomar Medical Technologies Inc.
A developer of light-based systems for cosmetic treatments, Palomar Medical Technologies Inc. of Burlington, Mass., has announced financial results for the fourth quarter and year ended Dec. 31, 2011. Fourth quarter 2011 total revenues amounted to $23 million, up 40 percent year over year. “This quarter was the ninth consecutive quarter of product revenue growth year over year,” said CEO Joseph P. Caruso. “The fourth quarter was the first quarter of full shipments to North America and some other parts of the world for our newest flagship platform, the Palomar Icon aesthetic system. The majority of our sales in the fourth quarter were Icon systems.”