Cynosure Earnings: Here’s Why Investors are Excited Now
Cynosure, Inc. (NASDAQ:CYNO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.69%.
Cynosure, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 45% to $0.29 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Rose 26.59% to $50.09 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cynosure, Inc. reported adjusted EPS income of $0.29 per share. By that measure, the company beat the mean analyst estimate of $0.2. It beat the average revenue estimate of $46.96 million.
Quoting Management: “The completion of the Palomar acquisition in June marked a major milestone for our Company, enhancing our aesthetic industry leadership through the addition of complementary products, technology and distribution capabilities,” said Chairman and CEO Michael Davin. “Five weeks since the transaction received shareholder approval, the integration process is well underway. In fact, we’ve already finished the integration of the North American sales forces, and the combined group of more than 70 sales reps is now operating as one team.”
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