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CardioDynamics Reports 22% Revenue Growth in First Quarter 2008
Date:4/10/2008

Fifth Consecutive Quarter of Year Over Year Revenue Growth, Largest in Four

Years

SAN DIEGO, April 10 /PRNewswire-FirstCall/ -- CardioDynamics (Nasdaq: CDIC), the innovator and leader of Impedance Cardiography (ICG) technology, today reported financial results for fiscal first quarter 2008.

Financial Highlights of First Quarter 2008 Compared with First Quarter 2007
-- Net sales increased 22% to $5.8 million, up from $4.7 million

-- Record $2.3 million international sales, an increase of 364% from

$0.5 million

-- ICG sensor revenue increased 1% to $1,501,000, representing 26% of net

sales, up from $1,488,000, or 31% of sales

-- Operating loss reduced 38% to $852,000, from $1.4 million

-- Cash, equivalents and short-term investments increased to $7.6 million,

up from $3.8 million

Additional Key Operating Milestones for the First Quarter of 2008

-- ICG device sales increased 93% to 266 units, up from a total of

138 units

-- Installed base of BioZ monitors and modules increased 12% to over

8,000 units

-- Carried nearly $1.0 million of order backlog into the second quarter of

2008

-- Field headcount totaled 70 field associates, up from 66 one year ago

-- Entered into distribution and technology license agreements with

Recorders and Medicare Systems, Ltd. (RMS), one of the largest

manufacturers of medical equipment in India.

First Quarter 2008 Operating Results Discussion

The Company reported a net sales increase of 22% to $5.8 million. Sales growth was primarily driven by a 364% increase in international sales and a 14% increase in the average unit sales price of BioZ monitors compared with the first quarter of 2007. The significant growth in international sales during the quarter was the result of the fulfillment of two large hospital customer orders including
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SOURCE CardioDynamics
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