Aesthetic laser treatments developer Lumenis Ltd. posted $237.7 million revenue in 2010, 5% more than the $226.1 million revenue in 2009. Yokne'am-based Lumenis is a private company, after being acquired by a private equity group several years ago.
GAAP-based net profit rose 114% to $5.7 million in 2010 from $2.7 million in 2009. Non-GAAP net profit rose 32% to $6 million from $4.5 million.
Cash flow from operations fell to $15.3 million in 2010, including $3.3 million in legal settlements, from $18 million in 2009, which included a $6.6 million tax refund.
Cash and cash equivalents rose to $46.9 million at the end of 2010 from $41.3 million a year earlier.
Lumenis CEO Dov Ofer said, during 2010, the company achieved double-digit growth in Latin America, China and India. It continued to aggressively attempt to expand its presence in emerging markets.
"We also entered into a number of new distribution alliances worldwide, including a co-marketing agreement in the US with Boston Scientific for the exclusive distribution of Lumenis' products in the GI space. We will continue to pursue additional strategic initiatives, including investigating non-organic growth opportunities, while continuing our internal product innovation and expanding our worldwide sales and distribution network."
Published by Globes [online], Israel business news - www.globes-online.com - on March 31, 2011
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