Non-GAAP net income, which excludes stock-based compensation expense and its related income tax effects, was $14.4 million, or $1.13 per diluted share, for full-year 2008 compared with $18.3 million, or $1.44 per diluted share, in 2007. Please refer to the financial reconciliations included in this news release for a reconciliation of GAAP results to non-GAAP results for the 12 months ended December 31, 2008 and 2007.
"Looking ahead, we are committed to managing our business profitably and extending our industry leadership in 2009," Davin said. "Among our goals for the year, we plan to introduce a new flagship workstation at the American Academy of Dermatology Annual Meeting in March; open new direct sales offices in select international markets; and roll out several new technology innovations designed to benefit both aesthetic practitioners and patients."
"Our emphasis on delivering the most innovative and exciting products through the most efficient distribution channels has served us well," Davin said. "We plan to invest further in these areas as we navigate this economic downturn, with the aim of emerging as an even stronger competitor. With more than $95 million in cash, cash equivalents, marketable securities and investments at year end, and no long-term debt, we believe we have ample capital to execute our strategy."
Use of Non-GAAP Financial Measures
To supplement Cynosure's consolidated financial statements presented in accordance with GAAP, this press release includes the following measures defined as non-GAAP financial measures by the SEC: non-GAAP net incom
|SOURCE Cynosure, Inc.|
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