ATS Medical Announces Second Quart... (he United States. We believe our recentl...)

ATS Medical Announces Second Quarter Results

Date:8/4/2008

he United States. We believe our recently-launched products and strong product pipeline will enable us to continue growing record revenue in 2008 and beyond."

Additional Financial Results

The operating loss for the second quarter of 2008 was $2.8 million compared with an operating loss of $8.3 million in the second quarter of 2007. The operating loss for the second quarter of 2007 included non-recurring charges for acquired in-process research and development of $3.5 million in connection with the acquisition of the surgical cryoablation assets of CryoCath Technologies and an impairment charge related to the Company's PARSUS development program of $755,000.

The net loss for the second quarter of 2008 was $4.7 million, or $0.08 per share, compared with $8.7 million, or $0.18 per share in the second quarter of 2007. Included in the second quarter 2008 net loss was a charge of approximately $1.3 million due to the final mark-to-market revaluation of the ALTA warrant. Excluding this non-recurring charge, the adjusted net loss would have been $3.4 million, or $0.06 per share.

2008 Revenue Outlook

For the full year 2008 the Company now expects revenue to be in a range of $64 to $66 million versus its previous guidance of $62 to $66 million. The Company expects to generate an operating profit during the fourth quarter of 2008.

Conference Call Today

ATS management will host a conference call today, August 4, 2008 at 5:00 p.m. ET to discuss its second quarter financial results and current corporate developments. The dial-in number for the conference call is 800-218-0204 for domestic participants and 303-262-2130 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 beginning approximately one hour after the call's conc
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SOURCE ATS Medical, Inc.
Copyright©2008 PR Newswire.
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ATS Medical Announces Second Quart...(he United States. We believe our recentl...),Health