HORSHAM, Pa.--(BUSINESS WIRE)--Mar. 18, 2014-- PhotoMedex, Inc. (NASDAQ and TASE: PHMD) announces that last Saturday no!no!™ Hair Pro3 broke another beauty sales record when consumers purchased more than 10,500 units for total retail sales exceeding £1.7 million ($2.8 million) in a 24-hour special event on the major television home shopping channel in the U.K. This special event marked the television home shopping launch of the newly revealed no!no! Hair Pro3 model.
The no!no! hair removal product line has been featured on the major television home shopping channel in the U.K. since 2009, and has repeatedly broken sales records. The previous 24-hour beauty event U.K. TV home shopping sales record was achieved by the no!no! hair 8800 device in 2012, when more than 9,000 no!no! hair 8800 devices were sold.
The launch of the no!no! Hair Pro3 on television home shopping followed its recent launch with two premium retailers in the U.K., Harrods and Selfridges, both in-store and online.
The Company's Neova® skincare line was also recently launched in the U.K. and is currently available in Selfridges stores and online. The launch in Selfridges was followed by the start of a direct-to-consumer advertising campaign.
Commenting on the news, Moran Tabak, General Manager of Phototherapeutics Ltd., a wholly owned subsidiary of PhotoMedex, said, "We have been selling no!no! products in the U.K. since 2008 when we launched with Selfridges and Harrods, and over time we expanded our presence to more than 1,000 U.K. retail outlets including Boots, Argos and many others. Our on-the-shelf presence with the no!no! Classic, no!no! Plus, no!no! 8800, no!no! Skin™, no!no! Smooth™ and the Neova line allows us to create diversification between retail channels and offer the U.K. consumer a vast assortment of products and services. With direct-to-consumer television and print advertising that commenced in 2010 in parallel with live television home shopping, our ability to reach U.K. consumers has been ever increasing."
"These television home shopping results are all the more impressive when considering that the U.K. market is only about 20% the size of the U.S. market," said Dr. Dolev Rafaeli, CEO of PhotoMedex and President and CEO of Radiancy, Inc. "Our direct presence in the U.K. consumer market through our Phototherapeutics subsidiary, acquired through the merger between Radiancy and PhotoMedex, has been a stepping stone in the development of the market. All of our sales in Europe are managed through Phototherapeutics, and over the past two years we have developed local teams that are able to support the direct-to-consumer, retail and distributor sales in these territories. The European market currently includes sales in the U.K., Ireland and Germany via a dedicated online platform, and call centers supporting British, Irish and German consumers in local language with local fulfillment and customer service centers to allow for quick response."
The U.K. consumer websites for Neova and no!no! products are www.myneova.co.uk and www.nonopro.co.uk, respectively. The Selfridges web pages for Neova products and no!no! Hair Pro3 are here and here, respectively.
PhotoMedex is a global skin health company providing integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers. The company provides proprietary products and services that address skin diseases and conditions including psoriasis, vitiligo, acne, actinic keratosis (a precursor to certain types of skin cancer) and photo damage. Its experience in the physician market provides the platform to expand its skin health solutions to spa markets, as well as traditional retail, online and infomercial outlets for home-use products. As a result of its December 2011 merger with Radiancy Inc., PhotoMedex has added a range of home-use devices under the no!no!™ brand, for various indications including hair removal, acne treatment and skin rejuvenation. The company also offers a professional product line for acne clearance, skin tightening, psoriasis care and hair removal sold to physician clinics and spas.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements, including, but not limited to, statements relating to PhotoMedex's future financial performance, strategies, potential sales and earnings growth, and some portions of the conference call, particularly those describing PhotoMedex' strategies, operating expense reductions and business plans will also contain "forward-looking statements", each within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of the plans, strategies and objectives of management for future operations; any statements regarding product development, product extensions, product integration or product marketing; any statements regarding continued compliance with government regulations, changing legislation or regulatory environments; any statements of expectation or belief and any statements of assumptions underlying any of the foregoing. In addition, there are risks and uncertainties related to successfully integrating the products and employees of the Company and Radiancy, as well as the ability to ensure continued regulatory compliance, performance and/or market growth. These risks, uncertainties and other factors, and the general risks associated with the businesses of the Company described from time-to-time under the caption "Risk Factors" and elsewhere in the Company's SEC filings and reports and other documents filed with the SEC, could cause actual results to differ materially from those referred to, implied or expressed in the forward-looking statements. The Company cautions readers not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to the Company, inherently involve significant risks and uncertainties and are qualified in their entirety by this cautionary statement. The Company anticipates that subsequent events and developments will cause its views to change. The information contained in this conference call speaks as of the date hereof and the Company has or undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Source: PhotoMedex, Inc.
Kim Sutton Golodetz, 212-838-3777
Bruce Voss, 310-691-7100
Dennis McGrath, 215-619-3287
Chief Financial Officer