Last $4.68 USD
Change Today -0.05 / -1.06%
Volume 43.4K
As of 5:20 PM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

photomedex inc (PHMD) Snapshot

Open
$4.69
Previous Close
$4.73
Day High
$4.80
Day Low
$4.62
52 Week High
03/18/14 - $16.82
52 Week Low
10/15/14 - $4.54
Market Cap
89.2M
Average Volume 10 Days
104.7K
EPS TTM
$0.02
Shares Outstanding
19.0M
EX-Date
--
P/E TM
205.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for PHOTOMEDEX INC (PHMD)

photomedex inc (PHMD) Related Businessweek News

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photomedex inc (PHMD) Details

PhotoMedex, Inc., a skin health company, provides integrated disease management and aesthetic solutions to dermatologists, professional aestheticians, and consumers in North America, the Asia Pacific, Europe, and South America. The company operates in three segments: Consumer, Physician Recurring, and Professional. It offers products and services that address skin diseases and conditions, including psoriasis, vitiligo, acne, and photo damage. The company also provides a range of home-use devices under the no!no! brand name for various indications, such as hair removal, acne treatment, skin rejuvenation, and lower back pain; and a professional product line for acne clearance, skin tightening, psoriasis care, and hair removal to physician clinics and spas. In addition, it offers XTRAC excimer lasers used for the treatment of psoriasis and other skin diseases; NEOVA skin care products for preventing premature skin aging due to ultraviolet-induced DNA damage; and Omnilux light therapy systems to treat wrinkles, acne, minor muscle pain, and pigmented lesions. Further, the company provides Lumière light therapy equipment for use in non-medical applications, as well as a line of topical lotions to improve the appearance of fine lines, wrinkles, skin tone, and blemishes. Additionally, it develops, manufactures, and sells surgical products, including proprietary free-beam and Contact Laser systems for surgery; sells surgical disposables and accessories to hospitals and surgery centers; and repairs, maintains, and replaces parts on its products. PhotoMedex, Inc. was founded in 1980 and is headquartered in Horsham, Pennsylvania.

168 Employees
Last Reported Date: 03/17/14
Founded in 1980

photomedex inc (PHMD) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $450.0K
President, Chief Financial Officer, Treasurer...
Total Annual Compensation: $337.5K
Compensation as of Fiscal Year 2013.

photomedex inc (PHMD) Key Developments

PhotoMedex, Inc. Enters into Forbearance Agreement with the Lenders

On August 25, 2014, PhotoMedex, Inc. and its subsidiaries Radiancy, Inc.; LCA-Vision, Inc.; PhotoMedex Technology, Inc.; and Lumiere, Inc. entered into a Forbearance Agreement with the lenders that are parties to the Credit Agreement dated May 12, 2014, and with JP Morgan Chase, as Administrative Agent for the Lenders. Under the Credit Agreement, the Company obtained $85 million in senior secured credit facilities, which included a $10 million revolving credit facility and a $75 million four-year term loan. The Credit Agreement contained financial covenants, including a maximum leverage covenant and a minimum fixed charge covenant, which the Company is required to maintain; the targets for those covenants are determined quarterly based on a rolling average of the past four quarters of financial data. As of June 30, 2014, the Company failed to meet both financial covenants and consequently is in default of the Facilities. On August 4, 2014, the Company received a notice of default and a reservation of rights from Chase and engaged a third-party independent advisor to assist the Company in negotiating a longer term solution to the defaults. Pursuant to the terms of the Forbearance Agreement, the Lenders have agreed to forbear from exercising their rights and remedies with respect to the Specified Events of Default from August 25, 2014 until October 31, 2014, during which period the Company and its third-party independent advisor will review the Company's ongoing business and the advisor will advise on the financial restructuring of the Company's business. Concurrent with the signing of the Forbearance Agreement on August 25, 2014, the Company agreed to make the first payment on the term loan, equaling $3.75 million plus applicable interest, originally due September 1, 2014, and to pay $1 million toward the term loan in inverse order of maturity. The Company also agreed to make additional prepayments on the term loan of $937,500 each on September 1 and October 1, 2014 which will be applied in direct order of maturity, and a payment toward the revolving credit facilities on October 24, 2014 equal to 75% of cash-on-hand in excess of $20 million, as measured on October 22, 2014.

PhotoMedex, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

PhotoMedex, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's revenues were $52,120,000 compared to $58,065,000 a year ago, a decrease of 10%. Operating loss was $8,127,000 compared to operating income of $9,125,000 a year ago. Loss before taxes expense was $8,302,000 compared to income before taxes expense of $8,991,000 a year ago. Net loss was $7,480,000 or $0.40 per diluted share compared to net income of $7,094,000 or $0.34 per diluted share a year ago. LBITDA was $5,243,000 compared to EBITDA of $10,511,000 a year ago. Non-GAAP adjusted income was $143,000 or $0.01 per diluted share compared to $11,805,000 or $0.63 per diluted share a year ago. For the six months, the company's revenues were $102,195,000 compared to $115,281,000 a year ago. Operating loss was $8,405,000 compared to operating income of $18,717,000 a year ago. Loss before taxes expense was $8,726,000 compared to income before taxes expense of $18,714,000 a year ago. Net loss was $7,825,000 or $0.42 per diluted share compared to net income of $14,306,000 or $0.68 per diluted share a year ago. Net cash used in operating activities was $15,159,000 compared to net cash provided by operating activities of $9,420,000 a year ago. LBITDA was $3,984,000 compared to EBITDA of $21,682,000 a year ago. Non-GAAP adjusted income was $2,831,000 or $0.15 per diluted share compared to $24,266,000 or $1.30 per diluted share a year ago.

PhotoMedex, Inc. to Report Q2, 2014 Results on Aug 07, 2014

PhotoMedex, Inc. announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Aug 07, 2014

 

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