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ATS Medical Announces Fourth Quarter 2008 Results
Date:2/23/2009

- Company generates non-GAAP operating profit excluding litigation settlement

- Fourth quarter 2008 vs. fourth quarter 2007:

* Revenue increases 27% to $18.0 million

* Heart valve therapy revenue rises 26%

* CryoMaze cryoablation revenue grows 30%

* Record gross profit margin of 65.7% vs. 58.2%

MINNEAPOLIS, Feb. 23 /PRNewswire-FirstCall/ -- ATS Medical, Inc. (Nasdaq: ATSI), manufacturer and marketer of state-of-the-art cardiac surgery products and services, today reported financial results for the fourth quarter ended December 31, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040202/ATSILOGO)

Fourth Quarter 2008 Results

Revenue from the Company's heart valve therapy products, consisting of mechanical valves, tissue valves and repair products, was up 26% on a year-over-year basis to $13.0 million. The growth reflected a 23% increase in mechanical valve revenue, a 164% increase in tissue valve revenue and a 57% increase in valve repair revenue. Revenue from the Company's ATS CryoMaze(TM) cryoablation products for the treatment of cardiac arrhythmias grew 30% to $4.6 million. Total revenue growth excluding the impact of foreign currency fluctuations was approximately 30%.

Gross profit margin for the fourth quarter of 2008 was a record of 65.7%, representing significant improvement from 58.2% in the fourth quarter of 2007. Year-over-year gross profit margin improvements were due to lower mechanical valve product costs resulting from increased production as well as growth in the Company's surgical ablation business.

The GAAP operating loss for the fourth quarter of 2008 was $7.3 million co
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SOURCE ATS Medical, Inc.
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