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Exhibit 99.1
Contact:
Timothy Baker | Scott Solomon | |
President, Chief Operating Officer | Senior 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 Third-Quarter 2015 Results;
Revenue of $78.4 Million, 10 Percent Increase from
Prior Year
Third-Quarter Highlights:
| North America product revenue growth of 29 percent |
| Non-GAAP earnings of $0.21 per share; GAAP earnings of $0.14 per share |
| Cash and investments of $153.3 million at September 30, 2015 |
| Initiated U.S. pre-launch of SculpSure for non-invasive fat reduction |
Westford, MA October 27, 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 September 30, 2015.
Continued momentum in North America drove another quarter of strong top-line growth and increased gross margin for Cynosure, said Chief Executive Officer Michael Davin. Product revenue in North America was up 29 percent year-over-year to $40.8 million, or 63 percent of total product revenue for the quarter, on strong sales of the PicoSure, Icon and MonaLisa Touch product lines. International product revenue was essentially flat for the quarter compared with the third quarter of 2014 as a result of unfavorable foreign currency exchange rates, as well as continued economic weakness in Europe and China. On a constant currency basis, international product revenue was up 6 percent year-over-year.
As we discussed during our September 15th Investor Day, the U.S. pre-launch release of SculpSure, our new hyperthermic laser system for non-invasive fat reduction, is underway, Davin said. We have begun initial shipments of the system and conducted sales training with personnel in a number of key territories. Systems have also been placed with several industry luminaries, and the feedback from these physicians and their patients has been excellent. SculpSure was demonstrated at the American Society for Dermatologic Surgery Annual Meeting in Chicago and the 2015 meeting of the American Society of Plastic Surgeons in Boston. Internationally, SculpSure was unveiled at this months 25th European Academy of Dermatology and Venereology Congress in Copenhagen. In addition, we have conducted training for our direct sales offices in Europe and Australia.
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Cynosure Inc.
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: 0001193125-15-370071
Submitted to the SEC: Fri Nov 06 2015 3:38:27 PM EST
Accepted by the SEC: Fri Nov 06 2015
Period: Wednesday, September 30, 2015
Industry: Electromedical And Electrotherapeutic Apparatus