Candela Narrows Loss As Revenue Dips
Wayland-based Candela Corp. lost $3.6 million during the first quarter of its fiscal year compared to a loss of $4 million the prior year.
The laser maker said revenue for the quarter was $26.2 million compared to $26.7 million last year. The company also narrowed its loss from operations, which was $6.5 million a year ago and $4.9 million in the most recent quarter.
The quarter's results include about $2.3 million in expenses related to its acquisition by Syneron Medical Ltd. of Israel.
The company announced the merger agreement in September. Syneron plans to acquire Candela by the end of the year in an all-stock deal worth about $65 million.
Candela will be run as a wholly-owned subsidiary of Syneron and will remain at its headquarters in Wayland.
Candela makes lasers used in cosmetic and other procedures.
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