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Exhibit 99.1
Contact:
Timothy Baker | Scott Solomon | |
President, Chief Operating Officer | Vice President | |
and Chief Financial Officer | Sharon Merrill Associates | |
Cynosure, Inc. | (617) 542-5300 | |
(978) 256-4200 | CYNO@investorrelations.com | |
TBaker@cynosure.com |
Cynosure Announces Second-Quarter 2015 Results;
Record Revenue of $83.7 Million, Up 15 Percent from
Prior Year
Second-Quarter Highlights:
| North America product revenue growth of 47 percent |
| Non-GAAP earnings of $0.30 per share; GAAP earnings of $0.24 per share |
| Cash and investments of $145.2 million at June 30, 2015 |
| Received FDA clearances to market SculpSure for non-invasive fat reduction |
Westford, MA July 28, 2015 Cynosure, Inc. (Nasdaq: CYNO), which designs, manufactures and markets medical devices for aesthetic procedures and precision surgical applications worldwide, today reported financial results for the three months ended June 30, 2015.
Our North American business posted another quarter of double-digit growth, as revenues increased 47 percent year-over-year and selling prices remained stable, said Cynosure Chief Executive Officer Michael Davin. While our international results reflected the economic slowdowns in Europe and China, as well as unfavorable foreign currency fluctuations, our solid domestic performance enabled us to generate 15 percent overall revenue growth.
We continued to allocate capital to the long-term growth of our business, with sales and marketing investments in the MonaLisa Touch laser for vaginal health and in the upcoming planned launch of SculpSure, our new hyperthermic laser system for non-invasive lipolysis, Davin said. In its first six months in the U.S. market, MonaLisa Touch experienced a high level of demand, and we are pleased with the progress of the launch. Following our recent receipt of FDA 510(k) marketing clearances for SculpSure, we are laying the foundation for the U.S. introduction later this year of this first-of-its-kind aesthetic device for the non-invasive reduction of fat from the flanks and abdomen.
We also are creating new revenue streams for established products such as PicoSure®, our proprietary technology to remove tattoos and benign pigmented lesions, Davin said. In June, we began shipping initial revenue units of our new 532 nm laser delivery system,
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Cynosure Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2015 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Cynosure Inc provided additional information to their SEC Filing as exhibits
Ticker: CYNO
CIK: 885306
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-15-277854
Submitted to the SEC: Wed Aug 05 2015 9:01:28 AM EST
Accepted by the SEC: Wed Aug 05 2015
Period: Tuesday, June 30, 2015
Industry: Electromedical And Electrotherapeutic Apparatus