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Exhibit 99.1
Contact:
Timothy Baker | Scott Solomon | |
Chief Financial Officer | Senior Vice President | |
Cynosure, Inc. | Sharon Merrill Associates | |
(978) 256-4200 | (617) 542-5300 | |
tbaker@cynosure.com | CYNO@investorrelations.com |
Cynosure Reports Net Income of $6.3 Million on Record Sales of
$110.3 Million for the Second Quarter of 2016
Second-Quarter 2016 Highlights:
| North American product revenue up 46 percent to $59.5 million |
| International revenue up 8 percent to $31.1 million |
| Launched direct-to-consumer marketing for SculpSure® |
| GAAP gross margin up 240 basis points to 59.0 percent; Non-GAAP gross margin up 190 basis points to 60.3 percent |
| GAAP earnings of $0.27 per diluted share; Non-GAAP earnings of $0.36 per diluted share |
| Net cash from operating activities of $16.3 million |
Westford, MA July 26, 2016 Cynosure, Inc. (NASDAQ: CYNO) today reported second-quarter 2016 net income of $6.3 million, or $0.27 per diluted share, an increase of 18.3 percent compared with $5.4 million, or $0.24 per diluted share, for the same period of 2015. On a non-GAAP basis, excluding non-cash unrealized foreign exchange measurement gains and losses and amortization of intangibles, second-quarter net income was $8.6 million, or $0.36 per diluted share, compared with $6.7 million, or $0.30 per diluted share, for the prior-year period. Revenue for the three months ended June 30, 2016 increased 32 percent to a record $110.3 million, compared with $83.7 million in the second quarter of 2015.
Operating income for the 2016 second quarter was $10.5 million, compared with second-quarter 2015 operating income of $7.6 million. On a non-GAAP basis, excluding amortization of intangibles, income from operations for the second quarter of 2016 was $12.6 million, compared with $9.9 million for the prior-year period.
Our second-quarter performance demonstrates the strong momentum throughout our direct sales distribution network, said President and CEO Michael Davin. Product revenue in North America increased 46 percent in the second quarter to $59.5 million, reflecting the full U.S. rollout of SculpSure for non-invasive fat reduction earlier this year, as well as significant
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Cynosure Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2016 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: 0001193125-16-673453
Submitted to the SEC: Fri Aug 05 2016 4:02:09 PM EST
Accepted by the SEC: Fri Aug 05 2016
Period: Thursday, June 30, 2016
Industry: Electromedical And Electrotherapeutic Apparatus