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|Cynosure Achieves Record Quarterly Revenue of $122.1 Million in the Fourth Quarter of 2016, Up 19 Percent Year-over-Year|
Fourth-Quarter 2016 Highlights:
Full-Year 2016 Highlights:
Davin added, "SculpSure®, our unique laser treatment for non-invasive fat destruction, continues to outpace expectations. In the fourth quarter of 2016, we placed the highest number of SculpSure units in a quarter since we launched the device in late 2015.
"Demand for aesthetic procedures in
Fourth-Quarter 2016 Financial Results
The Company reported fourth quarter 2016 revenue of
For the fourth quarter of 2016, GAAP gross profit increased 22 percent to
Non-GAAP gross profit, excluding non-cash charges related to the amortization of intangibles, increased 21 percent to
GAAP operating expenses for the fourth quarter of 2016 were
Operating income for the fourth quarter of 2016 was
Cynosure generated GAAP net income in the fourth quarter of 2016 of
"We begin 2017 with a high degree of optimism, confident that we have the right product portfolio, technology and distribution to capitalize on the trends that will shape the aesthetic market in the quarters and years ahead," Davin said. "Our strategy positions us to generate sustained growth from diverse revenue sources, drive long-term profitability and deepen our competitive advantage."
Fourth-Quarter 2016 Financial Results Conference Call
In conjunction with the announcement of its fourth-quarter and full-year 2016 financial results, Cynosure will host a conference call for investors and analysts at
Cynosure develops, manufactures and markets aesthetic treatment systems that enable plastic surgeons, dermatologists and other medical practitioners to perform non-invasive and minimally invasive procedures to remove hair, treat vascular and benign pigmented lesions, remove multi-colored tattoos, revitalize the skin, reduce fat through laser lipolysis, reduce cellulite, clear nails infected by toe fungus, ablate sweat glands and improve women's health. The Company also markets radiofrequency (RF) energy-sourced medical devices for precision surgical applications such as facial plastic and general surgery, gynecology, ear, nose, and throat procedures, ophthalmology, oral and maxillofacial surgery, podiatry and proctology. Cynosure's product portfolio is composed of a broad range of energy sources including Alexandrite, diode, Nd: YAG, picosecond, pulse dye, Q-switched lasers, intense pulsed light and RF technology. Cynosure sells its products globally under the Cynosure,
Any statements in this press release about future expectations, plans and prospects for
To supplement our consolidated financial statements presented in accordance with GAAP, Cynosure uses non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income and non-GAAP diluted net income per share. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The non-GAAP financial measures included in this press release exclude costs associated with the acquisitions and amortization of intangible assets acquired, unrealized foreign exchange losses and the TCPA litigation settlement agreement for the three and twelve months ended
Cynosure's management believes that the non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding the acquisition-related costs, amortization and foreign exchange costs that may not be indicative of our core business operating results. Cynosure believes that both management and investors benefit from referring to the non-GAAP financial measures in assessing Cynosure's performance and when planning, forecasting and analyzing future periods. The non-GAAP financial measures also facilitate management's internal comparisons to Cynosure's historical performance and our competitors' operating results. Cynosure believes that the non-GAAP measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in our financial and operational decision making.
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