Founded in 1998 and based in Brisbane, CA, Cutera, Inc. (CUTR) designs, manufactures and markets laser and light-based aesthetic applications. Since it commenced commercial production in 2000, CUTR has quickly grown to become a leading player in the laser treatment category. Originally Altus Medical, the company changed its name to Cutera in January 2004 before going public in March 2004. Its flagship CoolGlide line of products is used in cosmetic processes such as permanent hair removal, and for treating pigmented lesions, wrinkles and veins. Cutera's primary customers are dermatologists and cosmetic surgeons, but it is also targeting its products for gynecologists and primary care physicians. The company derives revenue from four major sources: laser system sales (84% of 2006 revenues), upgrades (6%), service contracts (4%) and Titan refill revenues (6%). In the fourth quarter 2006, laser system sales were 85% of total revenues, upgrades 6% of revenues, service contracts 6% of revenues, and Titan refills were 3% of revenues.
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