surgical robotic mitral valve repair because of the ease of suture
"Our first quarter performance was especially strong with most of the upside coming from our existing products," continued Mr. Dale. "We began the launch of our new products, specifically the 3f Aortic Bioprosthesis and the Open Pivot AP360 Mechanical Heart Valve, towards the end of the quarter so we've yet to see an appreciable revenue impact from these introductions. We expect meaningful revenue from these products to begin in the second quarter and grow sequentially throughout the year. We are confident that the combination of robust growth from existing products and increasing contribution from new products will result in another landmark year for ATS. Furthermore, as top line growth continues, we fully expect the increased leverage will enable enhanced financial performance."
Additional Financial Results
The operating loss for the first quarter of 2008 was $3.6 million compared with an operating loss of $4.4 million in the first quarter of 2007. The net loss for the first quarter of 2008 was $2.4 million, or $0.04 per share, compared with $4.8 million, or $0.11 per share in the first quarter of 2007.
Revised 2008 Revenue Outlook
For the full year 2008 the Company now expects revenue to be in a range of $62 to $66 million versus its previous guidance of $60 to $64 million.
Conference Call Today
ATS management will host a conference call today, May 5, 2008 at 5:00 p.m. ET to discuss its first quarter financial results and current corporate developments. The dial-in number for the conference call is 800-218-4007 for domestic participants and 303-262-2142 for international participants. A live webcast of the call can also be accessed at http://www.atsmedical.com by clicking on the Investors icon.
A taped replay of the conference call will also be available begin
|SOURCE ATS Medical, Inc.|
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