Cynosure’s Q1 earnings miss expectations

May 2, 2013 By Sony Salzman Leave a Comment

First-quarter sales for Cynosure (NSDQ:CYNO) may have grown by a healthy 19%, but investors still sent share prices down some 2.2% today after the medical aesthetics company missed Wall Street’s expectations by 1 thin dime.

Westford, Mass.-based Cynosure posted profits of $1.2 million, or 7¢ per share, on sales of $40.7 million during the 3 months ended March 31, for profit growth of 51.3% and a top-line increase of 51.3%.

Still, adjusted to exclude 1-time items, earnings per share were 12¢, a full 10¢ below expectations on The Street. CYNO shares closed down 2.2% at $25.30 apiece today.

The adjusted numbers included $1.1 million in costs from Cynosure’s $294 million buyout of Palomar Medical (NSDQ:PMTI), according to a press release.

"We expect our pending acquisition of Palomar Medical Technologies to close by the end of June 2013," CEO Michael Davin said in prepared remarks. "The transaction would complement and broaden our product lineup with the addition of Palomar’s diode and intense pulsed light fractional aesthetic systems, would double the number of patents in our portfolio and would enhance our global distribution network."

Solition touts scar treatment study results
Soliton (NSDQ:SOLY) today announced positive results from treatment of fibrotic scars using its rapid acoustic pulse (RAP) device. The proof-of-concept study, conducted 12 weeks after a single treatment with the device, showed that 10 patients’ keloid and hypertrophic scars were with smaller. Soliton licensed the technology from the University of Texas on behalf of the… […]
January 2020 Issue: The Leadership in Medical Technology Issue
The next Roaring ’20s The medtech industry received one of the best holiday gifts it could have hoped for just before Congress adjourned for its year-end break: the repeal of the 2.3% medical device excise tax. The tax was part of the Affordable Care Act of 2010 and was one of a number of funding… […]
Integer adds IPG manufacturing and testing tech to Mexico plant
Integer Holdings (NYSE:ITGR) announced it has added implantable pulse generator (IPG) cleanroom assembly and testing capabilities at its Tijuana-North facility The plant is the first Class III active-implantable medtech manufacturing site in Mexico to receive FDA approval, according to the Plano, Texas-based company. Integer has added Class 7 and 8 cleanrooms, and manufacturing and capital… […]
FDA issues draft guidance on multi-use arthroscopy tubing sets
The FDA has issued draft guidance on arthroscopy pump tubing sets intended for multiple-patient use. Clinicians often use a single source of irrigation fluid for multiple patients without replacing the source of irrigation fluid or replacing/reprocessing the irrigation tubing system between patients. These devices are designed to deliver irrigation to the surgical site, these devices… […]
How LED light can break down ingestible medical devices
Researchers at the Massachusetts Institute of Technology have developed an approach to break down ingestible medical devices in the gastrointestinal tract. Medical devices can be inserted in the gastrointestinal tract to treat, diagnose or monitor a number of GI disorders. However, the devices have to removed through endoscopic surgery once completed. The MIT researchers developed… […]
New 510(k) boosts iRhythm, Verily efforts for AFib screening
The latest 510(k) clearance for the Verily Study Watch will further the efforts of the Google sister company and iRhythm Technologies (NSDQ:IRTC) to improve atrial fibrillation treatment. Verily — a life science company under Alphabet (NSDQ:GOOGL) — recently received an FDA 510(k) clearance to include an irregular pulse monitor in its Study Watch wearable. “We’ve worked carefully to meet the FDA’s stringent… […]
Argon Medical debuts IVC filter retrieval kits
Argon Medical Devices (Frisco, Texas) said this week that it has launched single-loop and triple-loop retrieval kits for percutaneous removal of inferior vena cava (IVC) filters that are no longer medically required. The kits are indicated for use via a jugular approach and offer the following features: A coil-reinforced outer sheath with the strength needed… […]
NANS 2020: Neuromodulation news you need to know
Neuromodulation devices from companies including Medtronic (NYSE:MDT), Abbott (NYSE:ABT) and SPR Therapeutics are showing promise treating pain. That’s one of the initial takeaways from study results that medical device companies in the neuromodulation space are touting this weekend at NANS 2020 in Las Vegas. NANS is a joint conference of Congress of Neurological Surgeons and the North American Neuromodulation… […]
Injection Molding Principles
Optimizing custom part designs for injection molding requires a thorough understanding of the process and outcomes. In this e-book, you’ll learn about common molding resins, special molding terms you should know, and most importantly, how to optimize your part with undercuts, even walls, drafts, and more. Download this e-book from Xometry to learn more… The […]
GW Plastics expands Vermont manufacturing and tech center
GW Plastics announced that it has completed a $10 million expansion of its Royalton, Vt., manufacturing and technology center. The company said it has added a 30,000 ft2 to the building to accommodate the growth of its thermoplastic injection molding and medical device contract assembly business. The expansion includes a new 13,000 ft2, Class 8… […]
Certain GE Healthcare patient-monitoring devices vulnerable to cyberattack
The federal government and GE Healthcare (NYSE:GE) announced today that the certain of the company’s patient monitoring devices are vulnerable to cyberattack. If attacked, some versions of the Carescape and ApexPro telemetry servers, the Carescape Central Station version 1 and Central Information Center systems could stop monitoring patients, silence alarms or produce unnecessary alarms during… […]