April 23, 2009
Laser Maker Narrows Loss
By Matthew L. Brown
Wayland-based Candela Corp. said it finished the third quarter of its fiscal year with revenue of $29.8 million and a net loss of $465,000.
On the profit front, that's an improvement over the same period a year ago, when the laser maker reported a net loss of $2.1 million. Revenue, though on the increase over the last three quarters, was down from $38.4 million a year ago.
The company's loss from operations was $1.4 million, down from $3.5 million a year ago. The company also ended the quarter with $24 million in cash, up from $21 million a year ago.
Candela makes lasers used in cosmetic and other surgeries. The company said the improvement in its earnings was due in part to improvements in the reliability of its equipment.
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