In this Thursday, Dec. 13, 2012 photo, amazon shipments are packaged in Koblenz, Germany. Amazon’s fourth-quarter net income fell 45 percent, as sharply higher revenue failed to keep pace with increased spending on order fulfillment and digital content, a trend that’s become the norm for the world’s largest online retailer. (AP Photo/dapd, Harald Tittel)
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In this Thursday, Dec. 13, 2012 photo, amazon shipments are packaged in Koblenz, Germany. Amazon’s fourth-quarter net income fell 45 percent, as sharply higher revenue failed to keep pace with increased spending on order fulfillment and digital content, a trend that’s become the norm for the world’s largest online retailer. (AP Photo/dapd, Harald Tittel)
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FILE - In a Nov. 14, 2011 file photo customers enter and exit a Lowe's store in Saugus, Mass. Home improvement retailer Lowe’s Cos. said Monday, Feb. 25, 2013, cleanup efforts after Superstorm Sandy and its new pricing strategy helped its fourth-quarter net income surpass expectations. (AP Photo/Michael Dwyer, file)
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This booking photo provided by the Clark County Detention Center in Las Vegas, Saturday, Dec. 22, 2012, shows 50-year-old Brenda Stokes, who also uses the name Brenda Wilson and Brenda Stokes Wilson. Police in Las Vegas have issued a plea for information about 10-year-old Jade Morris after she failed to return home Friday, Dec. 21, 2012, from a shopping trip with a woman who is thought to be Stokes. Stokes was arrested that night and accused of slashing the face of a female co-worker at the Bellagio resort on the Las Vegas Strip. She made her first appearance in Las Vegas Justice Court, Wednesday, Dec. 26, 2012. (AP Photo/Clark County Detention Center )
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This undated photo provided by the Las Vegas Police Department shows Jade Moris, 10, who police are searching for after she failed to return home Friday, Dec. 21, 2012, from a shopping trip with a woman arrested that night and accused of slashing the face of a female co-worker at the Bellagio resort on the Las Vegas Strip. The woman, Brenda Stokes, 50, made her first appearance in Las Vegas Justice Court on Wednesday, Dec. 26, 2012. (AP Photo/Las Vegas Police Department)
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This booking photo provided by the Clark County Detention Center in Las Vegas, Nev,. Saturday, Dec. 22, 2012, shows 50-year-old Brenda Stokes. Police in Las Vegas have issued a plea for information about 10-year-old Jade Morris after she failed to return home Friday, Dec. 21, 2012, from a shopping trip with a woman who is thought to be Stokes. Stokes was arrested that night and accused of slashing the face of a female co-worker at the Bellagio resort on the Las Vegas Strip. She made her first appearance in Las Vegas Justice Court Wednesday, Dec. 26, 2012. (AP Photo/Clark County Detention Center )
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FILE - In this April 12, 2012 file photo, Las Vegas Sands Chairman and CEO Sheldon Adelson speaks at a news conference for the Sands Cotai Central in Macau. Casino giant Las Vegas Sands Corp. picked Madrid over Barcelona for a multi-billion dollar Spainish gambling resort project dubbed "EuroVegas." The Spanish capital, the country's largest city, emerged as the company's best choice for the development, Las Vegas Sands Chairman and CEO Sheldon Adelson said in a statement released late Friday, Sept. 7, 2012 in Las Vegas. (AP Photo/Kin Cheung, File)
PhotoMedex 4Q income doubles after Radiancy deal
MONTGOMERYVILLE, Pa. (
AP) — PhotoMedex Inc., which makes skin-care products and technologies such as lasers for treating skin diseases, said Wednesday it moved to a profit in the fourth quarter after it acquired Radiancy Inc.
PhotoMedex's products include the Xtrac excimer laser, which is used in the treatment of psoriasis and vitiligo, and Omnilux light emitting diodes for acne, sun damage, and other conditions. In December 2011 the company acquired Radiancy Inc., which sells at-home hair removal, acne treatment, and psoriasis care products under the no!no! brand name.
PhotoMedex earned $5.9 million, or 27 cents per share, in the quarter ended in December. A year earlier, it took a loss of $3 million, or 22 cents per share. Its revenue rose 91 percent, to $54.8 million from $28.7 million.
Analysts expected the company to report net income of 22 cents per share and $52.8 million in revenue, according to FactSet.
The Radiancy deal was a reverse merger, and the fourth-quarter 2011 results reflect Radiancy's business before the acquisition closed. The company said direct to consumer sales grew 67 percent to $30 million in the fourth quarter, while retail and home shopping channel revenue more than doubled to $12.4 million. Xtrac treatment revenue rose to $2.6 million from $298,000.
For 2012, the company earned $22.5 million, or $1.08 per share, reversing its 2011 loss of $694,000, or 6 cents per share. Revenue rose 67 percent to $220.7 million from $132.1 million.
Shares of PhotoMedex rose 45 cents, or 3 percent, to $15.49 in morning trading.
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