Portfolio Update: Cynosure Inc.

Cynosure Inc. (Nasdaq: CYNO), a firm engaged in the design, marketing, and sale of aesthetic laser treatment systems, on May 1 announced the results of its operations for the first quarter ended March 31, 2007.

In the quarter, revenues increased 52% to a record $26.1 million, from $17.1 million in the first quarter of 2006. Gross profit margin increased to 62.0% of total revenues, compared with 53.1% for the same period in 2006.  GAAP net income totaled $2.1 million, or $0.17 per diluted share, versus $0.6 million, or $0.05 per diluted share, in the first quarter of 2006.  On a non-GAAP basis, which excludes the impact of stock-based compensation and expenses relating to Sona MedSpa, net income was $3.1 million, or $0.25 per diluted share, for the first quarter of 2007 compared with $1.5 million, or $0.12 per diluted share, in the first quarter of 2006.  Cynosure handily beat analyst estimates, which called for EPS of $0.20 on revenues of $23.06 million.

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