ZELTIQ Aesthetics (ZLTQ) Tops Q1 EPS by 6c; Raises Outlook

ZELTIQ Aesthetics (NASDAQ: ZLTQ) reported Q1 EPS of ($0.06), $0.06 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $51.6 million versus the consensus estimate of $48.2 million.

ZELTIQ Aesthetics sees FY2015 revenue of $235-238 million, versus prior guidance of $230-235 million and the consensus of $233.8 million.

Mark Foley, President and Chief Executive Officer, said, "We began the year with another strong quarter of execution on our strategic initiatives and maintaining our position as the market leader in the growing non-invasive fat reduction market. We delivered exceptional revenue growth in the first quarter with a 66% year-over-year increase, driven by very strong system placements, a record quarter for revenue cycles shipped and the strongest contribution from our international business to date. Further penetration into key international markets is a significant driver for our global expansion strategy and I am pleased with our early success. With the impressive results we continue to deliver both domestically and across our international markets, we are raising our full year 2015 revenue guidance to the range of $235 million to $238 million which includes an approximate $2 million negative impact related to currency headwinds."

Mr. Foley continued, "During the first quarter, we began to leverage the innovation of our controlled cooling technology through our R&D efforts, further establishing our leadership position in the market. In January, we launched our next generation CoolSmooth PRO" applicator which incorporates use of our recent FDA clearance for treatments at colder temperatures. This enhanced version of our original CoolSmooth" applicator will have reduced treatment and set-up times that should create a better overall patient experience. Early demand since its launch has been tremendous with nearly 1,000 already pre-sold prior to commencement of shipping last week. We expect to expand the innovative R&D work done on colder temperatures across other applicators as we move into 2016. The much anticipated launch of our CoolMini" applicator for smaller fat pockets and the submental area, or chin fat, remains on track for a fourth quarter 2015 clearance with enrollment fully complete and final follow-ups finishing up in the next two weeks."

Mr. Foley concluded, "Finally, we held the grand opening of our CoolSculpting University East Coast Training Center which was overwhelmingly successful and generated outstanding physician customer feedback. We received the following feedback from Susan Hughes, M.D., of Cherry Hill, New Jersey, 'This course blew me away. As a cosmetic surgical M.D., I was very skeptical about really needing to attend this course and giving up 2 days of my practice during the week. I got tired of my staff who previously attended knowing more than I did. After attending this great training course, I now understand Treatment to Transformation very well. The marketing and commitment of ZELTIQ to help promote this technology is commendable and appreciated. I'm upset that I didn't come sooner!'. We are very pleased with the positive impact CoolSculpting University is having on our customers and our CoolSculpting business and expect this dual-coast approach to further drive improved outcomes and increase practice revenues."

For earnings history and earnings-related data on ZELTIQ Aesthetics (ZLTQ) click here.

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