Navigation Links
ATS Medical Expects Second Quarter Revenue of $16.7 to $16.9 Million

Revenue from non-mechanical heart valve businesses expected to grow over

150% from 2007 second quarter

MINNEAPOLIS, July 7 /PRNewswire-FirstCall/ -- ATS Medical, Inc. (Nasdaq: ATSI), manufacturer and marketer of state-of-the-art cardiac surgery products and services, today reported preliminary revenue results for the second quarter ended June 28, 2008.


The Company currently expects revenue for the second quarter 2008 to be between $16.7 and $16.9 million, which would represent an increase of approximately 35% over second quarter 2007 revenue of $12.4 million and an increase of approximately 13% compared to the first quarter of 2008. Revenues from products and services other than the Company's mechanical heart valves are expected to exceed $6.0 million, an increase of approximately 18% over the previous quarterly record of $5.1 million set in the first quarter of 2008. The Company expects to release its second quarter results on August 4.

"Our second quarter results were driven by strong revenue growth across all of our product lines and geographies," said Michael Dale, Chairman, President and CEO of ATS Medical. "ATS CryoMaze(TM) surgical ablation revenue is expected to be especially strong, up approximately 220% over the prior year's second quarter and 13% compared to the first quarter of 2008. Revenue from our Heart Valve Therapy product offerings is expected to increase over 10% compared to the second quarter of 2007 and 11% compared to the first quarter of 2008, driven by new product introductions."

"While we continue to seek FDA approval of our ATS 3f(R) Aortic Bioprosthesis tissue valve, we have focused our commercial activities in a few select international markets. In the second quarter, these commercial efforts began to gain traction and we expect second quarter tissue valve revenue to increase approximately 90% compared to the first quarter of 2008. We continue to experience positive reception of our new ATS Open Pivot(R) AP360(TM) mechanical valve in the United States as evidenced by our third consecutive quarter of growth. We now expect a modest year-over-year increase in US mechanical valve revenue during the second quarter, the first such increase in five quarters. We believe that this quarter's results reflect our execution and the market's acceptance of our new product offerings across all segments," continued Mr. Dale.

"We also made significant progress recently in strengthening the Company's financial resources. We announced last week that Alta Partners had exercised its warrant for 1,960,000 shares of our common stock, generating $3.2 million in proceeds for the Company. In addition, we entered into a Subordinated Credit Agreement with Theodore C. Skokos, a member of our Board of Directors, for a two-year $5 million revolving line of credit. We continue to believe we do not need to raise additional capital to execute on our current growth plans," concluded Mr. Dale.

About ATS Medical

ATS Medical, Inc. provides innovative products and services focused on cardiac surgery. The Company, global in scope, is headquartered in Minneapolis, Minnesota. More than 150,000 ATS Open Pivot(R) Heart Valves, which utilize a unique pivot design resulting in exceptional performance and low risk profile, have been implanted in patients worldwide. The ATS 3f(R) brand encompasses multiple tissue heart valve product offerings at varying steps from market introductions to clinical trials to development projects that incorporate less invasive valve replacement technology. ATS Medical's focus on serving the cardiac surgery community is further strengthened by offerings that include ATS Simulus(R) annuloplasty products for heart valve repair and ATS CryoMaze(TM) surgical ablation products. The ATS Medical web site is

Safe Harbor

This Press Release contains forward-looking statements that may include statements regarding intent, belief or current expectations of the Company and its management. Actual results could differ materially from those projected in the forward looking statements as a result of a number of important factors, including the results of clinical trials, the timing of regulatory approvals, the integration of 3f Therapeutics and the surgical cryoablation business of CryoCath Technologies, Inc., regulatory actions, competition, pricing pressures, supplier actions and management of growth. For a discussion of these and other risks and uncertainties that could affect the Company's activities and results, please refer to the Company's filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2007.

SOURCE ATS Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Pennsylvania Medical Society and AARP Criticize Senator Specter for Blocking Bill to Protect Access to Doctors and Improve Medicare
2. AARP, Texas Medical Association Join Forces to Urge Passage of Bill Protecting Access to Doctors and Improving Medicare
3. Rising Medical Solutions, Inc. Expands Its California Managed Care Services to Include Utilization Review Program
4. Owner of Medical Equipment Company Sentenced to 130 Months in Prison for Health Care Fraud
5. Indiana State Medical Association and AARP Urge Reconsideration of Bill to Protect Seniors Access to Doctors and Improve Medicare
6. As I-1000 Signatures are Counted, Washington State Medical Association Opposition to Physician-Assisted Suicide Reiterated
7. VNUS Medical Technologies, Inc. Files Patent Infringement Lawsuits Against Biolitec, Dornier and CoolTouch
8. July 28, 2008: Status of Unlawfully Expelled Ahmadi Medical Students in Pakistan Still Unclear
9. ATS Medical to Participate at the Fourth Annual Collins Stewart Growth Conference
10. Launches First Ever Social Network for Birth-Related Medical Professionals
11. New MagnaBloc™ Product Available from Gradient Medical
Post Your Comments:
(Date:6/27/2016)... Lafayette, California (PRWEB) , ... ... ... a pioneer in the patient payment industry today announced its strategic partnership ... and health system workflows. , The two companies’ proven, proprietary technology combine ...
(Date:6/27/2016)... Park, KS (PRWEB) , ... June 27, 2016 , ... ... in retailers of Eyeglasses . , Millions of individuals in the United States ... eyeglasses have become a way to both correct vision and make a fashion statement. ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A Forever ... Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation ... as home to some of the world’s leading providers of cereal and other breakfast ...
(Date:6/26/2016)... North Carolina (PRWEB) , ... June 26, 2016 , ... ... release of a new product that was developed to enhance the health of felines. ... for centuries. , The two main herbs in the PawPaws Cat Kidney Support ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are confused ... endometriosis. These women need a treatment plan to not only alleviate symptoms and ... help for preservation of fertility and ultimately achieving a pregnancy. The specialists at ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... 2016 Jazz Pharmaceuticals plc (Nasdaq: ... Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR"), ... Inc. ("Celator"; Nasdaq: CPXX ) expired effective ... As previously announced on May 31, 2016, ... agreement under which Jazz Pharmaceuticals has commenced a tender ...
(Date:6/24/2016)... Calif. , June 24, 2016  Global ... a biopharmaceutical company developing novel therapeutics for the ... needs, today announced the closing of its previously ... common stock, at the public offering price of ... the offering were offered by GBT. GBT estimates ...
(Date:6/24/2016)... 2016 Dehaier Medical Systems Ltd. (NASDAQ: ... markets and sells medical devices and wearable sleep respiratory ... strategic cooperation agreement with Hongyuan Supply Chain Management Co., ... June 20, 2016, to develop Dehaier,s new Internet medical ... Dehaier will leverage Hongyuan Supply Chain,s sales platform to ...
Breaking Medicine Technology: