Reliability Problems Zap Candela Earnings
Product reliability problems have put Wayland-based Candela Corp.'s earnings in a tailspin.
The company reported a net loss of $2.7 million on revenue of $37.8 million for the fourth quarter of its fiscal year. For the same quarter a year ago, the company reported a net loss of $727,000 on revenue of $39 million.
The laser maker said revenue from lasers and other products decreased to $25.6 million in the fourth quarter compared to $29.2 million in the same quarter the prior year. Revenue from product-related services increased from $9.8 million to $12.2 million over the same period.
The company said it was "committed to minimizing customer downtime associated with the product reliability issues we are encountering." The company said it expects "the remainder of the calendar year to be challenging," and a return to profitability in the first quarter of 2009.
The company makes lasers used in cosmetic procedures.
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