AtriCure Reports Record Second Quarter 2008 Financi... ( High...)

AtriCure Reports Record Second Quarter 2008 Financial Results

Date:8/5/2008

Highlights

-- Record consolidated revenues of $14.9 million

-- Record revenues from domestic MIS products - $5.1 million

-- Record international revenues of $2.3 million - 49% growth

-- Net loss improves 43% to $1.6 million

-- Secured $10 million credit facility - expands capital resources -- Reported MIS procedure times of 60 minutes and hospital stays of two

days or less

WEST CHESTER, Ohio, Aug. 5 /PRNewswire-FirstCall/ -- AtriCure, Inc. (Nasdaq: ATRC), a medical device company and a leader in cardiac surgical ablation systems, today announced record second quarter 2008 revenues of $14.9 million and record revenues for each line of business.

"Based on our encouraging financial trends, available cash and newly secured credit facility, we are well positioned to drive toward profitability," said David J. Drachman, President and Chief Executive Officer. "Importantly, minimally invasive procedure times of 60 minutes and patients discharged from the hospital at two days or less, combined with our reported clinical results are clear indicators of our progress and the large and growing opportunity for our products."

Second Quarter 2008 Financial Results

Revenues for the second quarter of 2008 were a record $14.9 million, a 20.3% increase over the second quarter of 2007 and a sequential increase of 9.8% over the first quarter of 2008. Revenues from domestic open-heart products were a record $7.4 million, an 8.9% increase over second quarter 2007 revenues of $6.8 million and a 7.2% sequential increase. Revenues from domestic minimally invasive products were a record $5.1 million, representing a
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AtriCure Reports Record Second Quarter 2008 Financi...( High...)