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Cynosure Inc (CYNO) SEC Filing 10-K Annual report for the fiscal year ending Friday, December 31, 2010

Cynosure Inc

CIK: 885306 Ticker: CYNO

Exhibit 99.1

Contact:

Scott Solomon

Vice President

Sharon Merrill Associates, Inc.

Phone: (617) 542-5300

CYNO@investorrelations.com

NEWS RELEASE

Cynosure Reports Financial Results for the Fourth Quarter of 2010

 

   

Growth in North America, Asia Pacific Drive 16 Percent Increase in Revenue

 

   

Seventh Consecutive Quarter of Positive Operating Cash Flow

 

   

Company Reduces Full-Year Operating Expenses by $8.9 Million

 

   

Cynosure Concludes 2010 with Cash and Investments of $96.8 Million

Westford, Mass., February 15, 2011:

Cynosure, Inc. (NASDAQ: CYNO) today announced financial results for the three months and year ended December 31, 2010.

Revenues for the fourth quarter of 2010 increased 16 percent to $22.3 million from $19.3 million in the same period of 2009. Net loss for the fourth quarter of 2010 was $0.8 million, or $0.06 per basic and diluted share, compared with a net loss of $14.5 million, or $1.14 per basic and diluted share, or the comparable period of 2009. Financial results for the fourth quarter of 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, and a $2.1 million non-cash charge related to an inventory write-down of an earlier-generation product.

The company reduced its loss from operations in the fourth quarter of 2010 to $0.6 million, which included stock-based compensation of approximately $0.6 million. This compares with a loss from operations in the fourth quarter of 2009 of $5.7 million, which included stock-based compensation of $1.1 million.

“Higher product demand from North America and overseas drove our revenue growth in the fourth quarter,” said Cynosure President and Chief Executive Officer Michael Davin. “In North America, laser product sales were up 17 percent from the same period in 2009. Although financing remains difficult for many aesthetic practitioners, the relationships we have established with certain financial institutions and third-party financing sources are gradually beginning to improve access to credit for our customers. International laser product sales rose 18 percent from the fourth quarter of 2009, paced by solid gains in our Asian direct distribution network.”


The following information was filed by Cynosure Inc (CYNO) on Tuesday, February 15, 2011 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: 0001193125-11-061981
Submitted to the SEC: Thu Mar 10 2011 12:31:56 PM EST
Accepted by the SEC: Thu Mar 10 2011
Period: Friday, December 31, 2010
Industry: Electromedical And Electrotherapeutic Apparatus

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