Key Developments For Cynosure, Inc.
Cynosure, Inc. (CYNO.O) (Consolidated Issue listed on NASDAQ Global Market)
Cynosure, Inc. Signs Agreement With Unilever To Develop Light-Based Devices For Home Use
Cynosure, Inc. announced that it has signed a multi year, funded cooperative agreement with Unilever Ltd. to develop and commercialize light-based devices targeting the home use personal care market. Financial terms of the agreement were not disclosed.
Cynosure, Inc. Introduces Smartlipo MPX
Cynosure, Inc. announced that it has introduced the multi-wavelength Smartlipo MPX 46 watts, the Smartlipo platform of minimally invasive workstations for LaserBodySculpting. The 46-watt workstation enables a physician to liquefy and remove larger areas of unwanted fat in about half the time required by the original 32-watt Smartlipo MPX.
Cynosure, Inc. Issues Q1 2009 Outlook Below Analysts' Estimates; Cuts 25 Jobs
Cynosure, Inc. announced that for the first quarter of 2009, it expects revenues to be in the range of $14 million to $15 million, a GAAP net loss of $3.8 million to $4.3 million, or $0.30 to $0.34 per share. According to Reuters Estimates, analysts on average are expecting the Company to report revenues of $24 million and GAAP net profit of $0.48 million, and GAAP EPS of $0.01for the same period. The Company also announced that in recent weeks it have cut an additional 25 positions from worldwide workforce. This reduction has been partially offset by the opening in February of our direct sales office in Korea and the associated hiring of 11 employees, bringing our current total worldwide headcount to 271 employees. In addition, it has continued to reduce planned spending for various programs in 2009.
Cynosure, Inc. Announces Presentation of Favorable Results from Post-Marketing Studies of Smartlipo MPX
Cynosure, Inc. announced the presentation of positive efficacy data from two post-marketing studies that demonstrate the skin-tightening and tissue-shrinking effects of the Company's Smartlipo MPX laser lipolysis workstation. The studies are being presented at the 2009 American Society for Laser Medicine and Surgery (ASLMS) Annual Conference, which is taking place April 1-5 at the Gaylord National Resort & Convention Center near Washington, D.C. At one and three months, skin treated with Smartlipo MPX had a statistically significant higher skin shrinkage ratio than skin treated with liposuction only, Dr. DiBernardo reported. Of the nine patients who were fully evaluated, eight, or 89%, had an average of 54% greater shrinkage at three months on the Smartlipo MPX side than the liposuction side. The study also showed a statistically significant difference in skin tightening. At three months, the average improvement in skin tightening was 62% with Smartlipo MPX compared with a 5% improvement on the side treated with liposuction.
Cynosure, Inc. Issues Q4 2008 Outlook
Cynosure, Inc. announced that for the fourth quarter of 2008, it expects to report revenues of $25 million to $26 million. The Company expects to report a GAAP net loss of $2.2 million to $2.7 million, or $0.17 to $0.21 per share. Financial results for the fourth quarter of 2008 are expected to include a bad debt charge of approximately $2.5 million.
