Cynosure Inc, a Westford, Mass-based designer, marketer, and manufacturer of medical devices for precision surgical applications and aesthetic procedures, recently released its first quarter financial results.
The company reported revenue at $94.7 for the first quarter. This was a 26% increase from the same period last year. North American revenue grew 76% year-over-year, and international product revenue totaled $22.5 million (adjusted for constant currency).
“Sustained momentum in North America, in part reflecting the full US launch of SculpSure, helped generate solid first-quarter results for Cynosure, as our domestic business posted year-over-year top-line growth for the 22nd consecutive quarter,” Michael Davin, Cynosure CEO, says in a company news release.
“International product revenue was down 13% year-over-year, including the impact of foreign exchange, and down 11% on a constant currency basis, reflecting ongoing economic weakness in the EMEA region. The softness among our European direct subsidiaries and international third-party distributors was partly offset by our subsidiaries’ results in the Asia Pacific region, where we posted 17% higher product revenue on a constant currency basis for the quarter as compared to last year.”
Technology from Cynosure was the subject of 20 scientific presentations at the American Society for Laser Medicine & Surgery’s annual conference. This included 17 oral abstracts and three e-posters presenting detailed data from research programs, including skin rejuvenation, melisma, facial photo-aging, noninvasive fat reduction, tattoo removal, and genitourinary syndrome of menopause, per the release.
“The global trend toward less-invasive aesthetic procedures plays directly into the strength of our products, technology platforms, and worldwide distribution network,” Davin states in the release. “We have a number of exciting catalysts in the quarters ahead, and we will apply the same financial and operational discipline as we execute our growth strategy going forward.”
[Source(s): Cynosure Inc, PR Newswire]