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Candela curbs personnel

This article was originally published in The Gray Sheet

Executive Summary

Boston-based aesthetic laser developer will cut 15 positions and reduce the salaries of 50 additional employees in an attempt to add $2 mil. to its annual bottom line, the company announces during an April 30 earnings call. Sales for the first quarter of 2002 were down 14% over the same period in 2001, from $18.8 mil. to $16.1 mil., and the firm posted a loss of $291,000 ($0.03 per share) for the quarter, compared to a profit of $1.55 mil. ($0.14 per share) in the year-ago period. Growth is expected following 510(k) clearances for the Vbeam and Smoothbeam laser systems in March, and the Cbeam psoriasis and surgical scar treatment system in January...
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