Cynosure Earnings: Here’s Why Investors Like These Results
Cynosure, Inc. (NASDAQ:CYNO) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.47%.
Cynosure, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 100% to $0.12 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Rose 19.08% to $40.69 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cynosure, Inc. reported adjusted EPS income of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.13. It beat the average revenue estimate of $38.51 million.
Quoting Management: “Higher revenue, a favorable product mix and strong operating leverage contributed to a positive first quarter for Cynosure,” said Cynosure’s President and Chief Executive Officer Michael Davin. “Laser product revenue increased 21 percent to $34.1 million from $28.1 million for the same period of 2012. Each of our distribution channels posted year-over-year gains, with particularly robust growth coming from our North American direct sales channel, our Asian subsidiaries and third-party distributors. These results speak to the success of both new product introductions in the United States and a number of recent marketing clearances we have received in key international territories.”
Key Stats (on next page)…