CUTR
#Hi, <UNK>.
We ended the quarter at June 30 with about 50 field sales guys here in North America.
We're targeting around the 60 range by the end of the year.
But we're going to be opportunistic as the year goes on to add accordingly.
On the international side, we're a mixture of direct and distributors but we've got about 25 to 30 salespeople and we'll continue to add there and be opportunistic as well, as we see fit.
Yes.
It's really more of the product mix and just fluctuations from quarter to quarter.
Not seeing significant ASP resistance there, it's mostly product mix.
We're not managing that from day to day.
We have a certain threshold at which we want to accumulate as much as we can at this level certainly.
The Board approved initially a $40 million repurchase and then second, a $10 million share repurchase.
And we, at this time, will continue to purchase our shares.
The later, <UNK>.
As you know, we are making pretty significant investments in the business as it is.
Sales force and R&D investments are at record levels.
So we think what we don't need to have that much cash on the balance sheet.
We think that at this price level that it's a great time to be opportunistic.
I'd say yes and yes in general, <UNK>, that we're just continuing to promote and invest in the marketplace and become better known out there and more aggressively seek market share.
So it's kind of across the board.
We had a meeting with the FDA to lay out what we think is the path to getting broader indications.
It was a constructive discussion.
We've done clinical work that we're currently in the process of assembling for a 510(k) submission.
I don't want to get into that level of detail, but we're encouraged by our findings and we hope to work very closely with the agency to secure broader indications.
Again, I think we're very encouraged with where we believe we can go next with the truSculpt technology and also include some features and benefits that we think are going to make a big difference.
And then of course, the 670 wavelength for enlighten, we think is a big deal as well.
So I think those two development programs are going to have, I believe, a very positive impact on the business.
Thanks, <UNK>.
It certainly is, <UNK>.
We're working on a pretty amazing technology to remove the five most popular tattoo ink colors.
And as you know, different colors of light are more effective on certain tattoo inks.
So by having a three wavelength solution, we're the only ones out there that can provide the patient with better outcomes with fewer treatments.
So we think this is a big deal and we also think that adoption of next-generation tattoo technology is in its infancy.
Well, the loss actually was a small profit once you remove the nonrecurring legal settlement and associated expenses.
And then when you add back the non-cash related stock-based comp and amortization, depreciation, it gets about a $1 million profit.
The legal settlement and the associated expenses are in general and administration expenses.
$1.2 million.
That's correct.
The cash flow from operations consumed about $300,000 but when you add back to $1.2 million, you get nearly $1 million of cash accretiveness.
Well, certainly with the Board's approval of the second repurchase program, there's comfort that getting our cash down to somewhere in the $20 million range is something that we think is more than sufficient.
We haven't had a specific discussion to talk about at what point do we stop repurchasing stock.
But we think this is a great time to be buying our shares.
Thanks, <UNK>.
I can't disclose any of the specifics of it, but it's a one-time nonrecurring legal matter that we had where there was a settlement fee as well as there were legal expenses associated that will not continue forward.
Yes, <UNK>, we are bound by a confidentiality requirement here.
You're welcome.
Thanks.
Thank you for participating in our call today.
We will be attending many investor marketing events in the third quarter and hope to see in the coming months.
We look forward to updating on our business progress in the third quarter 2016 conference call in November 2016.
Good afternoon and thank you for your continued interest in Cutera.
