Kevin Connors, president and chief executive officer of Cutera, stated, “Historically, our first-quarter revenue is lower than any other quarter’s revenue during a fiscal year, and that trend was worsened by the ongoing global recession. In April, we reduced our company wide headcount by 12% and we will continue to manage our expenses during these uncertain times and make the appropriate decisions in an effort to better align expenses with current revenue levels.
“In the current market environment, we believe that the core market of dermatologists, plastic surgeons and other established medical offices provide us the best opportunities in our industry. Therefore we plan on focusing our sales, marketing and new product development efforts on this segment of our market. As such, we remain focused on gathering clinical data for our Adjustable Depth Selectivity (ADS) technology that was recently previewed at the American Academy of Dermatology meeting in San Francisco. This latest innovation is the culmination of five years of clinical research and collaboration for non-invasive body contouring.”
Connors concluded, “While the near-term prospects for our industry are difficult to predict due to the current economic uncertainty, we believe that our worldwide distribution network, strong balance sheet with $103.4 million in cash and investments — with no debt, broad portfolio of products, and various research and development projects underway, offer continuing, long-term opportunities for our company.”
