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

ciation and amortization (EBITDA) in the second quarter of 2009 of $1.9 million compared to an EBITDA loss of $2.4 million in the second quarter of 2008. A reconciliation of reported net loss to non-GAAP EBITDA for these periods is provided in a schedule accompanying this press release.

"We are very pleased with our income statement performance in the second quarter as we achieved positive operating income and reduced our net loss to almost breakeven," said Michael Dale, President and Chief Executive Officer. "Our revenue growth coupled with increased operating discipline is yielding operating leverage and positioning us to achieve our goal of positive net income in the next few quarters."

Product Highlights

Mechanical Heart Valves

  • Mechanical valve revenue was $11.9 million in the second quarter of 2009, an increase of 10% over the second quarter of 2008.
  • The Company and its Japanese distribution partner, Century Medical, commenced distribution of the AP360 mechanical valve in Japan during the quarter.

Tissue Heart Valves

  • Tissue valve revenue during the second quarter of 2009 was $1.6 million compared to $0.5 million in the comparable quarter of 2008 and $1.1 million in the first quarter of 2009. U.S. revenue represented more than 50% of total tissue valve revenue in the second quarter.
  • Professor Joerg Linneweber from Charite-Universitatsmedizin Berlin presented five-year single center follow-up data on the ATS 3F Aortic Bioprosthesis highlighting the valve's excellent safety and performance profile.
  • Dr. Xu Yu Jin of the John Radcliffe Hospital, Oxford, U.K. presented five-year hemodynamic performance data on the ATS 3F Aortic Bioprosthesis as assessed by valve energy loss and pressure gradient. Dr. Jin's findings support a significant hemodynamic advantage with the ATS 3f
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SOURCE ATS Medical, Inc.
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