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Cynosure Reports 53% Increase in Revenues and Returns to Profitability in the Fourth Quarter of 2011
Date:2/14/2012

WESTFORD, Mass., Feb. 14, 2012 /PRNewswire/ -- Cynosure, Inc. (NASDAQ: CYNO) today announced financial results for the three and twelve months ended December 31, 2011.

Fourth-Quarter Financial Results Revenues increased 53% to $34.1 million in the fourth quarter of 2011 from $22.3 million for the same period in 2010.  Income from operations totaled $1.4 million for the quarter, compared with a loss from operations of $626,000 for the comparable period of 2010. Net income for the fourth quarter was $1.1 million, or $0.08 per diluted share, compared with a net loss of $798,000, or $0.06 per basic and diluted share, for the fourth quarter of 2010.

"Strong organic growth in North America – coupled with our recent strategic acquisitions – enabled Cynosure to deliver its highest quarterly revenue in more than three years," said President and Chief Executive Officer Michael Davin. "North American laser product revenue increased 90 percent in the quarter over the same period in 2010, stimulated by an expanded product offering and further improvement in the U.S. lending environment for aesthetic equipment. Our ConBio and Eleme Medical acquisitions accounted for about one half of the increase, as the products associated with these transactions are performing well. Our acquisition of distribution rights to the PinPointe FootLaser also contributed to our top-line growth. Equally important, we were encouraged to see 38 percent organic growth compared to the fourth quarter of 2010 in the domestic market."

Gross profit margin for the three months ended December 31, 2011 was 56.3%, compared with 55.9% for the same period of 2010. The increase in gross margin reflected a favorable product mix and a larger percentage of laser product revenue from North America, where average selling prices tend to be higher.

"The improvement of our gross profit margin
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SOURCE Cynosure, Inc.
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