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Cynosure Reports Record Revenues for Fourth-Quarter and Full-Year 2012
Date:2/12/2013

of products, as well as the MedLite® C6 and RevLite® Workstation and the Smartlipo® laser lipolysis system.

"Cellulaze, our newest flagship product, continues to enjoy a favorable reception among aesthetic plastic surgeons who are first-time Cynosure customers, as well as those doctors who are upgrading to Cellulaze from our Smartlipo MPX™ and Smartlipo Triplex™ workstations," Davin said.  "Compared with the fourth quarter of 2011, North American laser revenue was up 44 percent in the quarter, while international laser revenue grew 14 percent in the quarter from our European and Asian subsidiaries and international distribution channel." 

Gross profit margin for the three months ended December 31, 2012 increased to 58.1%, compared with 56.3% for the same period of 2011. The year-over-year improvement was primarily the result of increased sales of products with higher margins and increased revenue contribution from North America, where average selling prices tend to be higher. Gross profit margin for 2012 was 57.9% compared with 56.3% for 2011. Total operating expenses for the fourth quarter of 2012 were $20.6 million, or 48% of revenues, compared with $17.8 million, or 52% of revenues, for the fourth quarter of 2011.  The $2.8 million increase was primarily due to higher selling and marketing expenses related to sales growth, as well as continued clinical research and the development related to the Company's picosecond Alexandrite laser technology. For the year, operating expenses totaled $76.8 million, or 50% of revenues, compared with $64.3 million, or 58.2% of revenues, for 2011. 

"We continue to strengthen our operating performance with a favorable mix of products and expense management, resulting in a decrease in operating expenses as a percentage of revenue," Davin said. "Following the completion of our public offering in November 2012, we concluded 2012 with approximately $147 million in c
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SOURCE Cynosure, Inc.
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