WESTFORD, Mass., Feb. 12, 2013 /PRNewswire/ -- Cynosure, Inc. (Nasdaq: CYNO) today reported record revenues for the fourth quarter and full year ended December 31, 2012. Revenues for the fourth quarter increased 25% to $42.7 million from $34.1 million for the same period of 2011, while revenues for the full year of 2012 were up 39% to $153.5 million from $110.6 million for 2011.
"Our focus on consistently delivering the industry's leading aesthetic workstations and technology innovations enabled Cynosure to generate strong results in 2012," said Michael Davin, Cynosure's President and Chief Executive Officer. "We believe that we are well positioned to continue our momentum in the year ahead. Demand across North America and our international segments helped to produce record top-line performance for the Company in both the fourth quarter and full year. At the same time, we continue to achieve additional operating leverage which enhanced our margins and significantly strengthened the bottom line."
Net income for the fourth quarter of 2012 was $4.0 million, or $0.27 per diluted share, compared with $1.1 million, or $0.08 per diluted share, for the fourth quarter of 2011, reflecting increased revenue and improved operating leverage for the 2012 period. For the full year, net income was $11.0 million, or $0.79 per diluted share, compared with a net loss of $2.9 million, or $0.23 per share, for 2011.
Laser product revenue increased 28% for the fourth quarter of 2012 to $36.5 million from $28.4 million for the same period of 2011, and 45% for the full year to $128.5 million from $88.4 million for 2011. These increases reflect the U.S. launch of the Company's minimally invasive Cellulaze™ Cellulite Laser Workstation in 2012 and strong demand for its other devices including the Elite™ family
|SOURCE Cynosure, Inc.|
Copyright©2012 PR Newswire.
All rights reserved