Palomar Medical posts 2Q2012 financial results, shows signs of profitability

Medical laser manufacturer Palomar Medical Technologies (NASDAQ:PMTI) announced financial results for its second quarter, which ended June 30.

Medical laser manufacturer Palomar Medical Technologies (NASDAQ:PMTI; Burlington, MA) announced financial results for its second quarter, which ended June 30. The company is up 21% year-over-year, with total revenues of $19.7 million.

The company continues to grow, as it has been expanding its product portfolio and making key investments in its distribution network, explains CEO Joseph P. Caruso. "This quarter was the 11th consecutive quarter of product revenue growth year-over-year. Our professional aesthetic business is close to reaching profitability," he says.

In June, the company expanded its professional product line with the first shipments of the Vectus high-power diode laser hair removal system, explains Caruso. During the quarter, they also began shipping its Emerge non-ablative fractional laser.

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