Cynosure Inc (CYNO) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2008

Cynosure Inc

CIK: 885306 Ticker: CYNO

Exhibit 99.1



Scott Solomon

Vice President

Sharon Merrill Associates, Inc.




Westford, Mass., February 10, 2009

– 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 12 months ended December 31, 2008.

Fourth-Quarter 2008 Financial Results

Consistent with Cynosure’s January 15, 2009 announcement, revenues for the three months ended December 31, 2008 were $25.5 million, reflecting the effect of deteriorating global economic conditions and a weakening credit environment in the aesthetic laser industry. Revenues for the comparable period of 2007 were $36.6 million. Gross margin for the fourth quarter of 2008 was 61.0% of total revenues, compared with 65.9% for the same period in 2007. The decline in gross margin was attributable to pricing pressure and a shift in the geographic product mix in the fourth quarter of 2008, which saw a higher percentage of laser revenue from the company’s international customers than in the comparable quarter of 2007.

Net loss for the fourth quarter of 2008 was $2.5 million, or $0.20 per basic share. For the comparable period of 2007, Cynosure reported net income of $5.3 million, or $0.41 per diluted share. Results for the fourth quarter of 2008 included a bad debt charge of $2.7 million related to uncollectible accounts from certain customers affected by the overall economic environment and the tightening of credit markets, which subsequently caused a number of practitioners to be unable to meet their payment obligations to Cynosure.

On a non-GAAP basis, which excludes stock-based compensation expense and its related income tax effects, the net loss was $1.9 million, or $0.15 per basic share, for the fourth quarter of 2008, compared with non-GAAP net income of $5.9 million, or $0.46 per diluted 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 following information was filed by Cynosure Inc (CYNO) on Tuesday, February 10, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
Ticker: CYNO
CIK: 885306
Form Type: 10-K Annual Report
Accession Number: 0001193125-09-053962
Submitted to the SEC: Fri Mar 13 2009 4:58:29 PM EST
Accepted by the SEC: Fri Mar 13 2009
Period: Wednesday, December 31, 2008
Industry: Electromedical And Electrotherapeutic Apparatus

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