January 30, 2008
Candela Can't Remove Red Ink From Balance Sheet
By Matthew L. Brown
Wayland-based Candela Corp. reported a second-quarter loss of $4.6 million on revenue of $36.1 million compared to income of $1 million on revenue of $37.4 million for the same period a year ago.
The company, which makes lasers and related equipment for the cosmetic surgery industry, said the second quarter results include a $2.5 million charge for the write-off of the company's holdings in OccuLogix Inc. Candela ended up with OccuLogix shares when OccuLogix bought SOLX, in which Candela had minority ownership.
Candela also reported that expenses increased to $18.1 million during the quarter from $12.6 million for the same period a year ago. The increase includes general and administrative expenses and about $3.9 million in legal expenses. For the quarter, expenses took up more than half the company's revenue compared to 33.6 percent last year.
The company, which makes lasers and related equipment for the cosmetic surgery industry, said the second quarter results include a $2.5 million charge for the write-off of the company's holdings in OccuLogix Inc. Candela ended up with OccuLogix shares when OccuLogix bought SOLX, in which Candela had minority ownership.
Candela also reported that expenses increased to $18.1 million during the quarter from $12.6 million for the same period a year ago. The increase includes general and administrative expenses and about $3.9 million in legal expenses. For the quarter, expenses took up more than half the company's revenue compared to 33.6 percent last year.
WBJ Web Partners
Most Recent
Most Recent
0 Comments