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Alsius Corporation Reports Record Fourth Quarter and Full Year 2007 Financial Results
Date:3/13/2008

expenses in the fourth quarter of 2007 were $6.4 million compared to $3.8 million in the same period of 2006. Included in the cost of revenue and operating expenses for the fourth quarter of 2007 were non-cash, stock compensation expenses of $1.3 million compared to $0.1 million for the fourth quarter of 2006. Total operating expenses for the full year 2007 were $20.6 million, compared to $13.3 million in 2006. Included in the full year 2007 expenses were non-cash, stock compensation expenses of $3.4 million, compared to $0.6 million in 2006. The increase in total operating expenses for the fourth quarter and full year 2007 was primarily attributable to the growth in Alsius' direct sales force and marketing activities to support worldwide market expansion.

Net loss for the fourth quarter of 2007 was $5.7 million, or $0.31 per share, compared to $4.8 million, or $0.44 per share, for the fourth quarter of 2006. The 2007 year-end net loss was $22.2 million, or a loss per share of $1.49, compared to $17.6 million, or a loss per share of $1.60, in the same period a year ago.

Cash and cash equivalents were $24.4 million at December 31, 2007, compared to $29.5 million at September 30, 2007, and $0.6 million at December 31, 2006. Cash used for operating activities during the fourth quarter of 2007 was $3.7 million. In addition, the company repaid $0.8 million of debt, in the fourth quarter of 2007. Alsius' independent registered public accounting firm's report on the company's financial statements for the fiscal year ended December 31, 2007 will include a going concern qualification. The company anticipates raising capital prior to the second quarter of 2009 to support growth, consistent with its business plan.

Highlights and Accomplishments

"We believe our accomplishments in 2007 have helped us build a strong foundation for future success," added Mr. Worthen. "By the end of last year, approximately 560 Alsius systems had been installed at major
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SOURCE Alsius Corporation
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