Smartlipo MPX Workstation and International Business Drive Top-Line Growth;
Company Posts Eighth Consecutive Quarter of Profitability
WESTFORD, Mass., Oct. 28 /PRNewswire-FirstCall/ -- Cynosure, Inc. (Nasdaq: CYNO), a leading developer and manufacturer of a broad array of light-based aesthetic treatment systems, today announced financial results for the three and nine months ended September 30, 2008.
Third-Quarter 2008 Financial Results
Revenues increased to $38.2 million for the third quarter of 2008 from $31.5 million for the third quarter of 2007. Gross profit margin was 64.9% of total revenues, compared with 65.0% for the same period in 2007. Net income for the third quarter of 2008 was $3.2 million, or $0.25 per diluted share, compared with net income of $4.4 million, or $0.34 per diluted share, for the third quarter of 2007. Results for the third quarter of 2008 include a foreign currency exchange loss of $0.4 million, compared with a foreign currency exchange gain of $0.5 million in the third quarter of 2007.
Non-GAAP net income, which excludes stock-based compensation expense and its related income tax effects, was $4.7 million, or $0.37 per diluted share, for the third quarter of 2008, compared with non-GAAP net income of $5.1 million, or $0.40 per diluted share, for the third 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 months ended September 30, 2008 and 2007.
"Cynosure posted strong third-quarter results despite challenging
global economic conditions, generating revenue growth of more than 20% over
the prior year period and delivering our eighth consecutive quarter of
|SOURCE Cynosure, Inc.|
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