- Gross Margin Increases 430 Basis Points from the First Quarter of 2007 to
- Company Prepares to Launch Newest Generation of Laser Lipolysis
WESTFORD, Mass., April 29 /PRNewswire-FirstCall/ -- Cynosure, Inc. (Nasdaq: CYNO), a leading developer and manufacturer of a broad array of light-based aesthetic treatment systems, today announced record revenues and gross margin for the quarter ended March 31, 2008.
First-Quarter 2008 Financial Results
Revenues increased approximately 41% to a record $36.8 million in the first quarter of 2008 from $26.1 million in the first quarter of 2007. Gross profit margin increased to 66.3% of total revenues compared with 62.0% for the same period in 2007. Net income in the first quarter of 2008 increased approximately 130% to $4.9 million, or $0.38 per diluted share, compared with net income of $2.1 million, or $0.17 per diluted share, in the first quarter of 2007.
Non-GAAP net income, which excludes stock-based compensation expense and its related income tax effects, was $5.7 million, or $0.45 per diluted share, in the first quarter of 2008, compared with non-GAAP net income of $3.1 million, or $0.25 per diluted share, in the first quarter of 2007. Please refer to the financial reconciliations included in this news release for a reconciliation of GAAP results to non-GAAP results for the three month periods ended March 31, 2008 and 2007.
"We produced another excellent quarter, as our flagship solutions for
laser lipolysis, anti-aging and hair removal all posted double-digit
percentage revenue gains," said Cynosure President and Chief Executive
Officer Michael Davin. "Laser product rev
|SOURCE Cynosure, Inc.|
Copyright©2008 PR Newswire.
All rights reserved