Candela Profits, Revenue Soar; Stock to Split
WAYLAND, Mass., Jan. 20 -- Candela Corp. reported that results for its second fiscal quarter ended January 1, 2000, show a 34-percent jump in revenues and a 130-percent increase in profits in comparison with the same period of the prior year. The company reported second quarter revenues of $17.8 million, compared with $13.3 million in the same period a year earlier. Revenues for the six month period ending January 1, 2000, were $33.8 million, a 41 percent increase over the $24 million reported last year.
Gerard E. Puorro, Candela's president and CEO, commented, We continue to see solid growth across our markets. Earlier this week we announced the launch of Vbeam, our new vascular product designed to capture expanded market share. We remain optimistic that we can continue to grow our top and bottom lines.
Candela also announced that its board of directors has approved a three-for-two stock split, to be paid in the form of a 50-percent stock dividend. All company shareholders of record at the close of business on January 28, 2000, will receive one additional share for each share of Candela common stock owned. The company expects to distribute the additional shares to shareholders on or about February 28, 2000. Following the announced stock split, Candela will have approximately 11 million shares of common stock outstanding.
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