Medical Aesthetics: Cynosure, Syneron Gain on Swings to Black
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.
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.