Reverse Acquisition (Tables)

12 Months Ended

Dec. 31, 2012

Reverse Acquisition [Abstract]

Schedule of Purchase Price Allocation

The fair value of the assets acquired and liabilities assumed were based on management estimates and values derived from an outside independent appraisal. During the measurement period of the reverse acquisition, provisional amounts have been retroactively adjusted to reflect new information obtained about facts and circumstances that existed as of the acquisition date in connection with certain tax positions of the acquired entity and as a result of such data in connection with certain tax election decisions concerning the sale of Photo Therapeutics Ltd. to Radiancy Ltd., the foreign subsidiary within the group and to the related realignment of its intellectual property prior to the reverse acquisition. As a result of the aforementioned, the net allocations to deferred tax assets were increased by $1,467 and were increased to taxes payable by $121 during the current year. The Company has completed in the fourth quarter 2012, its analysis of the usability of the net operating loss carry-forwards of Pre-merged PhotoMedex. The analysis resulted in a change to goodwill of $3,241 due to the establishment of a valuation allowance on deferred tax assets related to the net operating loss carryforwards in the UK. Based on the final purchase price allocation, the following table summarizes the fair value amounts of the assets acquired and liabilities assumed at the date of the acquisition:

Cash and cash equivalents	$	1,271
Accounts receivable		1,873
Inventories		7,136
Prepaid expenses and other current assets		639
Property and equipment		4,543
Patents and licensed technologies		13,500
Other intangible assets		12,000
Other assets		41
Deferred tax assets		25,348
Total assets acquired at fair value		66,351
Accounts payable		(6,333	)
Accrued compensation and related expenses		(1,554	)
Other accrued liabilities		(2,592	)
Deferred revenues		(556	)
Total liabilities assumed		(11,035	)
Net assets acquired	$	55,316

Unaudited pro-forma results

The consolidated results of operations do not include any revenues or expenses related to the pre-merged PhotoMedex business on or prior to December 13, 2011, the consummation date of the reverse acquisition. The Company's unaudited pro-forma results for the years ended December 31, 2011 and 2010 summarize the combined results of the Radiancy and PhotoMedex in the following table, assuming the reverse acquisition had occurred on January 1, 2010 and after giving effect to the reverse acquisition adjustments, including amortization of the tangible and intangible assets that were acquired in the transaction:

	Year Ended December 31,
	2011			2010
	(unaudited)			(unaudited)
Net revenues	$	162,341		$	104,872
Net income (loss)		(13,077	)		6,378
Net income (loss) per share:
Basic	$	(0.91	)	$	0.50
Diluted	$	(0.91	)	$	0.45
Shares used in calculating net income (loss) per share:
Basic		14,445,184			13,845,883
Diluted		14,445,184			14,314,292