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Cynosure Reports Financial Results for the Fourth Quarter and Full Year 2008
Date:2/10/2009

share, for the fourth 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 December 31, 2008 and 2007.

"The global economic downturn has created an extremely challenging environment for the aesthetic industry," said Cynosure President and Chief Executive Officer Michael Davin. "After achieving 13 consecutive quarters of year-over-year, double-digit percentage revenue growth, our revenue declined sharply in the fourth quarter as a number of prospective customers faced tighter lending standards and some physicians opted to delay planned capital equipment purchases."

"As previously announced, Cynosure has taken a number of steps to bring expenses in line with current revenue levels," Davin said. "We have reduced our worldwide headcount by 17%, decreased spending on multiple programs and implemented other cost-control initiatives. Together, we expect these actions to produce an annualized savings of approximately $8 million to $10 million as we work toward managing the business profitably in 2009."

"Despite the economic headwinds, we believe Cynosure concluded 2008 in a strong competitive position," Davin said. "During 2008, we extended our track record of innovation with the introduction of three new workstations, including Smartlipo MPX(TM) for laser lipolysis, Accolade(TM) for the removal of pigmented lesions, and Affirm CO2(TM) for advanced ablative therapy. We also rolled out a series of technology enhancements such as the SmartSense(TM) intelligent energy delivery system and the Affirm Er wavelength for anti-aging applications. For customers, these solutions raise the bar for efficacy and safety in the aesthetic industry, and further differentiate the Cynosure brand."

Full-Year Results

For the 12 months ended December 31, 2008, revenues increased
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SOURCE Cynosure, Inc.
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5. Cynosure President and CEO Michael Davin Named Ernst & Young Entrepreneur of the Year(R) 2008 Award Winner in New England
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