CARLSBAD, Calif., May 22, 2013 /PRNewswire/ -- Colorescience today announced the appointment of Steve P. Loomis as Chief Financial Officer, further expanding the brand's executive team.
"I am delighted to welcome Steve to Colorescience after working with him at SkinMedica for three years," said Mary Fisher, Chief Executive Officer. "He has an impressive track record of managing aggressive revenue growth, while maintaining balance sheet focus. I am confident his strong operating background will be a major contributor to our success."
In his first year at SkinMedica, Mr. Loomis, was named "San Diego's 2011 Private Company CFO of the Year" by The San Diego Business Journal, after leading initiatives that resulted in operating cash flow generation for the first time in the company's history, reducing debt by a third, and returning more than a quarter of invested capital to investors. He was a key member of the strategic deal team responsible for the acquisition of SkinMedica by Allergan in December 2012, along with recently appointed Colorescience Chief Business Officer, Ted Ebel.
"I'm excited to join an all-star team at Colorescience and be part of aggressively growing this extraordinary business," said Mr. Loomis. "I was impressed with the team and business opportunity when we bought Colorescience eighteen months ago, and am now looking forward to working toward replicating the success we experienced at SkinMedica."
Prior to joining SkinMedica, Mr. Loomis was CFO and Vice President of Operations at CardioDynamics International Corporation, a publicly traded international medical device company, for fourteen years. While at CardioDynamics International Corporation, Mr. Loomis developed key business systems and processes to support revenue growth to more than $45 million and led several public financings for the Company, including the strategic acquisition of Medis and Vermed, and then the eventual Company sale to SonoSite in August 2009. Previously, he was the Director of Financial reporting at Kinko's World Headquarters, a worldwide business service provider. Prior to that, he was Vice President, CFO and Treasurer of Terminal Data Corporation, a publicly traded international high technology manufacturing company.
Mr. Loomis graduated with honors from California State University at Northridge in 1985. He is a Certified Public Accountant and has served on the boards of several for-profit and not-for-profit organizations.
Makeup that does more. Colorescience's high-performance mineral-based cosmetics were created to help achieve a clear, even complexion and protect skin from the damaging effects of the sun and environment. The products are unique from other makeup lines because they include high-quality efficacious ingredients, luxury colores and are simple to use. Its dermatologist recommended formulations with SPF 20, 30 and 50 blend and layer together to camouflage imperfections and achieve an instant flawless face.
Sunforgettable® is a registered trademark of Colorescience. The line is comprised of mineral sun protection products that offer a high level of Broad Spectrum UVA/UVB sun protection, SPF 30, SPF 35 and SPF 50. All products are easy to apply and re-apply throughout the day and help protect against the sun's harmful rays and diminish the signs of aging.
SkinMedica and Allergan are trademarks of Allergan.