Cynosure Inc (CYNO) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Cynosure Inc

CIK: 885306 Ticker: CYNO

Exhibit 99.1



Scott Solomon

Vice President

Sharon Merrill Associates, Inc.


Cynosure Reports Fourth-Quarter and Full-Year 2009 Financial Results

Company Achieves Targeted ‘09 Operating Expense Savings of $18 Million

Westford, Mass., February 9, 2010

– 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, 2009.

Fourth-Quarter 2009 Financial Results

Revenues for the three months ended December 31, 2009 were $19.3 million, compared with $25.5 million for the same period of 2008 and $17.9 million for the third quarter of 2009. The decrease in revenues from the fourth quarter of 2008 reflected the continued effects of the global economic slowdown on the aesthetic laser industry. Access to credit remains a significant hurdle for many practitioners seeking to make aesthetic capital equipment purchases.

Financial results for the three months ended December 31, 2009 included: a non-cash tax charge of $10.4 million to establish a valuation allowance against the company’s U.S. deferred tax assets, primarily consisting of temporary differences; and a $2.1 million non-cash charge related to an inventory write-down of an earlier-generation product. The write-down resulted in part from rapid customer adoption of Cynosure’s newer-generation products, coupled with the downturn in the overall aesthetic laser market.

Gross profit for the fourth quarter of 2009 was 43.9% of total revenues, compared with 60.5% for the same period of 2008 and 58.4% for the third quarter of 2009. Excluding the $2.1 million inventory write-down, gross profit for the fourth quarter of 2009 was 54.7% of total revenues. In addition to the write-down, the decrease in gross profit from the sequential and year-over-year periods reflected a higher percentage of laser revenue from international markets, where sales prices tend to be lower than in the U.S. and Canada, and a decline in average selling prices due to overall market conditions.

Including the charge for the valuation allowance against deferred tax assets and the inventory write-down, the net loss for the fourth quarter of 2009 was $14.5 million, or $1.14 per basic and diluted share. This compared with a net loss of $2.5 million, or $0.20 per basic and diluted share, for the fourth quarter of 2008.

The following information was filed by Cynosure Inc (CYNO) on Tuesday, February 9, 2010 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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Definitive Proxy Statement (Form DEF 14A)
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Cynosure Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2010 10-K Annual Report includes:

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SEC Filing Tools
Ticker: CYNO
CIK: 885306
Form Type: 10-K Annual Report
Accession Number: 0001193125-10-055023
Submitted to the SEC: Fri Mar 12 2010 1:05:57 PM EST
Accepted by the SEC: Fri Mar 12 2010
Period: Thursday, December 31, 2009
Industry: Electromedical And Electrotherapeutic Apparatus

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