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CARLSBAD, CALIF. - May 13, 2011 - SkinMedica, the fastest growing professional skin care company in the U.S., today announced that its Senior Vice President and Chief Financial Officer, Steve P. Loomis, was named “San Diego’s 2011 Private Company CFO of the Year” by The San Diego Business Journal.
“We are thrilled that Steve has received this well-deserved distinction,” reflected SkinMedica’s Chief Executive Officer, Mary Fisher. “In his first year with SkinMedica, his talent, stellar performance and leadership have had a tremendous positive impact on the Company and our bottom line.”
Since joining the SkinMedica team, Mr. Loomis has achieved a number of instrumental goals for the Company, including reducing accounting and tax fees by over 45%, launching initiatives that resulted in several important improvements to financial and operational controls such as accelerating inventory turnover and improving gross margin. Additionally, Mr. Loomis initiated and led the efforts that allowed SkinMedica to improve bottom line performance and exceed its profitability goal.
“I am very honored to have received this recognition from The San Diego Business Journal,” said Mr. Loomis. “This award is truly a testament to the diligent work performed daily by the capable and motivated group of people that I have the privilege to work with at SkinMedica. It's great to be part of a winning team, and I’m excited to see what we achieve in the next several years.”
Mr. Loomis joined SkinMedica last spring from CardioDynamics International Corporation, a publicly traded medical device company, where he served as CFO and Vice President of Operations. Mr. Loomis is a CPA with over twenty five years of experience in accounting, finance and operations including senior financial positions at Kinko’s, Terminal Data Corporation and KPMG.
SkinMedica, Inc. is focused on developing, acquiring, and commercializing products that improve the appearance of skin. SkinMedica markets and sells to physicians, with a focus on aesthetics, both prescription and non-prescription skin care products. The company's full line of aesthetic skin care products includes the revolutionary TNS Essential Serum® and hallmark TNS Recovery Complex®. The formulations in SkinMedica’s clinical skin care collection enhance skin appearance, reduce signs of aging, and provide other skin care benefits. SkinMedica's primary prescription product, VANIQA® (eflornithine hydrochloride) Cream 13.9%, is the only FDA-approved prescription product for the reduction of unwanted facial hair in women. Colorescience Pro’s dermatologist recommended, high-performance cosmetics are formulated to remedy and camouflage specific skin concerns and protect skin from damaging effects of the sun and environment. Colorescience Pro’s luxury aesthetic makeup line is sold in the physician and medical spa channels.
TNS Recovery Complex®, VANIQA®, and SkinMedica®, are registered trademarks of SkinMedica, Inc and affiliates.