Aesthetic procedure device manufacturer Cynosure Inc, Westford, Mass, recently released its financial results for the fourth quarter of 2015.
According to a media release from the company, during the fourth quarter its North America product revenue was $55.8 million, up 31% year-over-year; its non-GAAP earnings were $0.42 per diluted share and GAAP earnings were $0.31 per diluted share; and its cash and investments totaled $182.8 million at December 31, 2015.
For the entire year 2015, the company earned $339.5 million in revenue, up 16% year-over-year; its non-GAAP earnings were $1.08 per diluted share and GAAP earnings were $0.70 per diluted share; and cash flow from operations was $37.8 million, per the release.
“The successful launch of SculpSure, our new laser platform for non-invasive fat reduction, together with the strong performance of other products, including MonaLisa Touch®, Icon™ and PicoSure®, helped drive a 31% increase in product revenue from North America and enhance our competitive position in the market,” states Cynosure CEO Michael Davin, in the release.
Cynosure also announces in the release that its Board of Directors has authorized the repurchase of up to $35 million of the company’s common stock from time to time on the open market or in privately negotiated transactions. The repurchase program will be funded using the company’s working capital.
For more information, visit Cynosure Inc.
[Source(s): Cynosure Inc, PR Newswire]