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ATS Medical Announces Second Quarter 2009 Results
Date:8/3/2009

MINNEAPOLIS, Aug. 3 /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 its second quarter ended July 4, 2009.

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

Second Quarter 2009 Results

Revenue for the quarter was $19.8 million, or 17.0% higher than the second quarter of 2008. Revenue from the Company's heart valve therapy products, consisting of mechanical valves, tissue valves and repair products, was up 21.9% on a year-over-year basis to $14.7 million. Revenue from the Company's ATS CryoMaze(TM) cryoablation products for the treatment of cardiac arrhythmias was $4.7 million, an increase of 7.7% compared to the second quarter of 2008. Excluding the impact of foreign currency fluctuations revenue growth for the quarter was 21.7% overall, 27.6% for heart valve therapy products and 10.0% for cryoablation products.

Gross profit margin for the second quarter of 2009 was 64.4%, representing significant improvement from 60.9% in the second quarter of 2008. Year-over-year gross margin improvements were primarily the result of lower mechanical valve and CryoMaze product costs resulting from increased production.

Operating income for the second quarter of 2009 was $0.2 million compared with an operating loss of $2.8 million in the second quarter of 2008. The GAAP net loss for the second quarter of 2009 was $0.2 million, or $0.00 per share, compared with $4.7 million, or $0.08 per share, in the second quarter of 2008.

The Company also had non-GAAP earnings before interest, taxes, depre
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SOURCE ATS Medical, Inc.
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