UPDATE 1-Cynosure Q2 profit in line with Wall Street

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July 29 (Reuters) - Aesthetic laser device maker Cynosure Inc (CYNO.O) posted a second-quarter profit that was in line with market estimates, as weak market trends for anti-aging and hair removal products were offset by demand for its laser-assisted fat reduction system Smartlipo.

Analysts have said aesthetic laser device makers will face tough times ahead unless they make deeper forays into new areas like liposuction and body contouring to overcome a saturated market for their flagship hair removal and wrinkle treatment products.

Cynosure's recent financial performance has been helped by its Smartlipo line of products, while other companies in the sector have struggled as they face a dearth of new innovative products that will help distinguish themselves from the crowd and also battle falling U.S. consumer spending in a slowing U.S. economy.

Cynosure earned $4.7 million, or 36 cents a share, for the second quarter ended June 30, up from $2.7 million, or 21 cents a share, a year earlier.

Excluding special items, the company earned 46 cents a share. Revenue rose 30 percent to $39.2 million.

Analysts on an average expected a profit of 46 cents a share, before special items, on revenue of $38.48 million, according to Reuters Estimates.

Shares of the company closed at $22.83 Monday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Pratish Narayanan)