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CANDELA CORP /DE/
|
10-Q
May 7, 3:23 PM ET
CANDELA CORP /DE/ 10-Q
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Contents
9
General Discussion
1990 Candela Corporation Employee Stock Purchase Plan
The following table reflects changes in the Company’s accrued warranty account during the three and nine-month periods ended March 28, 2009 and March 29, 2008, respectively:
The Company offers extended service contracts that may be purchased for periods from one to five years. The Company recognizes service contract revenue ratably over the life of the contract. Actual service contract expenses incurred and charged to service costs of sales during an interim period may be more or less than the amount of amortized service contract revenue recognized in that period.
Revenues are recognized when a signed non-cancelable purchase order exists, the product is shipped, title and risk have passed to the customer, the fee is fixed or determinable, and collection is considered probable. Circumstances which generally preclude the immediate recognition of revenue include shipping terms of FOB destination or the existence of a customer acceptance clause in a contract based upon customer inspection of the product. In these instances, revenue is deferred until adequate documentation is obtained to ensure that these criteria have been fulfilled.
The following table reflects changes in the Company’s deferred revenue account during the three and nine-month periods ended March 28, 2009 and March 29, 2008, respectively:
Cautionary Statements
Item 4 - Controls and Procedures
Item 6 - Exhibits