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

approximately 12% to $139.7 million from $124.3 million in 2007. Gross margin was 65.1% of total revenues in 2008 compared with 64.2% in 2007. Net income for 2008 was $10.2 million, or $0.80 per diluted share, versus $14.5 million, or $1.15 per diluted share, for 2007.

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.

Business Outlook

"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
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SOURCE Cynosure, Inc.
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4. Cynosure to Announce Second-Quarter 2008 Financial Results on July 29
5. Cynosure President and CEO Michael Davin Named Ernst & Young Entrepreneur of the Year(R) 2008 Award Winner in New England
6. Cynosure Expands Presence in China with the Opening of Sales Office in Beijing
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