Medical aesthetics: Cynosure, Syneron gain on swings to black

February 14, 2013 by MassDevice staff

The medical aesthetics market, hit hard by the recession, may have taken a turn for the better as industry stalwarts CynoSure and Syneron report returns to profitability.

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IF their 4th-quarter and full-year results are anything to go by, the slumping medical aesthetics market is on the rebound, as Syneron Medical Ltd. (NSDQ:ELOS) and Cynosure (NSDQ:CYNO) report returns to profitability.

Both of the companies, which make cosmetic medical devices, posted strong double-digit sales growth for the 3 and 12 months ended Dec. 31, 2012.

Yokneam, Israel-based Syneron logged profits of $5.2 million, or 15¢ per share, on sales of $72.8 million for the 4th quarter, compared with a net loss of $8.0 million, or 23¢ per share, on sales of $61.0 million. That amounts to top-line growth of 19.3%. For the full year, Syneron reported losses of $1.3 million, or 4¢ per share, on sales of $263.6 million, slashing losses by 97.4% and posting sales growth of 15.5% compared with 2011.

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CynoSure, based in Westford, Mass., said profits for its 4th quarter were $4.0 million, or 27¢ per share, on sales of $42.7 million, marking bottom-line growth of 272.9% on top-line growth of 25.1%. For the full year, CynoSure reported profits of $11.0 million, or 79¢ per share, on sales of $153.5 million. That makes for lower losses by some 444% and sales growth of 38.8%.

And each company handily beat Wall Street analysts' Q4 earnings forecasts. Adjusted to exclude 1-time items, Syneron's EPS reached 12¢, well above The Street's expected losses of 2¢. For CynoSure, adjusted EPS for Q4 were 27¢, more than double the 13¢ expected by the boffins.

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