Cynosure reports 48 percent revenue increase

Cynosure has announced that its total revenues for the third quarter of 2011 rose by 48 percent to reach $28.3 million (17.7 million pounds).

The company said it made a net loss of $0.8 million, including $0.4 million of expenses associated with the acquisition of Hoya ConBio's aesthetic laser assets in June.

Michael Davin, president and chief executive of Cynosure, was pleased to report the firm's highest quarterly revenue since 2008.

"This result was attributable primarily to the effect of our ConBio and SmoothShapes XV acquisitions, which complement our geographic reach and product offerings," he added.

Mr Davin said the company will head into the final quarter of the year in "a strong position both operationally and financially".

Cynosure's gross profit for the July to September period was 56.5 percent, compared with 56.1 percent for the same period in 2010.

The company paid $24.5 million in cash for Hoya ConBio's laser business, which enabled the addition of the proprietary PhotoAcoustic energy technology to its portfolio.