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CardioDynamics Reports Third Quarter 2008 Results, Seventh Consecutive Quarterly Revenue Growth and 15% Year to Date Revenue Increase
Date:10/9/2008

Achieves Positive Operating Income Excluding Non-Cash Charges

SAN DIEGO, Oct. 9 /PRNewswire-FirstCall/ -- CardioDynamics (Nasdaq: CDIC), the innovator and leader of BioZ(R) Impedance Cardiography (ICG) technology, today reported financial results for fiscal third quarter 2008.

Sales Highlights of Third Quarter 2008 Compared with Third Quarter 2007

-- Net ICG sales increased 8% to $6.1 million, up from $5.6 million

-- International sales increased 35% to $690,000, up from $513,000

-- 8,456 ICG monitors and modules sold cumulatively to date, up 12% from

7,532 one year ago

-- ICG device sales totaled 220 units, 110 of which were BioZ Dx systems,

7 BioZ monitors, 87 ICG Modules, and 16 Medis ICG monitors, up from a

total of 197 ICG devices

-- Field headcount totaled 71 field sales associates, including 34 U.S.

territory managers and 21 clinical application specialists, up from 64

field sales associates

Key Financial Results of Third Quarter 2008 Compared with Third Quarter 2007
-- ICG gross profit margin was 75%, up from 72%

-- Loss from operations improved 78% to $254,000, down from $1.2 million

-- Net loss from continuing operations was $432,000, or $0.06 per share,

down from $1.4 million, or $0.19 per share

-- Net operating cash used in continuing operations was $461,000, down 61%

from $1.2 million

Additional Operating Milestone for the Third Quarter 2008

-- Announced BioZ(R) ICG technology integrates with General Electric

Healthcare's electronic medical record (EMR) system

Third Quarter 2008 Operating Results Discussion

The Company reported a net sales increase of 8% to $6.1 million for the third fiscal quarter 2008 and a 15% year-to-date sales increase to $18.0 million, up from $15.7 million for the same period a year ago. Third quarter ICG sales growth was driven by a co
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SOURCE CardioDynamics
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