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Cynosure Announces Preliminary Financial Results for the First Quarter of 2009
Date:4/15/2009

Company Further Reduces 2009 Operating Expenses to Address Continued Industry Weakness;

Cynosure to Report First-Quarter 2009 Financial Results on Tuesday, May 5

WESTFORD, Mass., April 15 /PRNewswire-FirstCall/ -- Cynosure, Inc. (Nasdaq: CYNO), a leading developer and manufacturer of a broad array of light-based aesthetic treatment systems, today announced preliminary, unaudited financial results for the quarter ended March 31, 2009.

Reflecting continued softness in the aesthetic laser industry, Cynosure expects first-quarter 2009 revenues to be in the range of $14 million to $15 million, compared with revenues of $36.8 million in the first quarter of 2008. The company expects to report a GAAP net loss for the first quarter of 2009 of $3.8 million to $4.3 million, or $0.30 to $0.34 per share, compared with GAAP net income of $4.9 million, or $0.38 per diluted share, for the three months ended March 31, 2008.

"The global economic recession continued to negatively affect our business throughout the first quarter, which historically has been our weakest quarter of the year," said Cynosure President and Chief Executive Officer Michael Davin. "While we experienced pockets of order strength in the first quarter, particularly in March, overall aesthetic laser capital equipment spending was down significantly. We attribute this decline to the continued restrictive credit environment and general caution among aesthetic practitioners and consumers, who remain uncertain about the duration of this economic downturn."

"We are continuing to adjust our operating expenses in response to the current market conditions and reduced revenue levels," Davin said. "In recent weeks we have cut an additional 25 positions from our worldw
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SOURCE Cynosure, Inc.
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