Cynosure Inc. (NSDQ:CYNO) posted increased revenues and narrowed its net losses during the second quarter.
The Westford, Mass.-based cosmetic device maker posted sales of $21.5 million during the three months ended June 30, up 3.2 percent compared with $20.8 million during the same period last year.
Cynosure reported that net losses narrowed to 36.4 percent to $1.5 million, or 12 cents per diluted share, from $2.3 million, or 18 cents per diluted share, during Q2 2009. The company shaved its operating loss to $900,000 during the quarter, down from $4.1 million a year ago.
President and CEO Michael Davin said sales of laser products in North America "reached their highest level in the past six quarters," according to a press release, adding that although the U.S. credit market is still tight, "we are encouraged about the momentum of our business exiting the first half of 2010."
Cynosure‘s sales in the Asia Pacific region posted " another double-digit percentage increase, led by our subsidiaries in China and Korea." In May, the company won regulatory approvals in Asia for its laser hair removal and liposuction devices. Its Elite MPX was approved by the Food and Drug Administration of Korea and Hong Kong’s Dept. of Health gave approval to Cynosure’s laser liposuction device, the Smartlipo MPX.
