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CardioDynamics Reports Second Fiscal Quarter 2008 Results, 18% Revenue Increase for First Half 2008
Date:7/1/2008

Company Announces 15% Quarterly Revenue Increase Over Prior Year and Sixth

Consecutive Quarter of Year Over Year Revenue Growth

SAN DIEGO, July 1 /PRNewswire-FirstCall/ -- CardioDynamics (Nasdaq: CDIC), the innovator and leader of BioZ(R) Impedance Cardiography (ICG) technology, today reported financial results for fiscal second quarter 2008. Highlights include 18% revenue increase for first half fiscal 2008, 15% quarterly revenue increase over prior year and sixth consecutive quarter of year over year revenue growth.

Sales Highlights of Second Quarter 2008 Compared with Second Quarter 2007

-- Net sales increased 15% to $6.2 million, up from $5.4 million

-- Over 8,200 ICG monitors and modules sold to date, up 12% from 7,300 one year ago

-- ICG device sales totaled 217 units, including 137 ICG monitors, 108 of which were BioZ Dx systems, 14 BioZ monitors, and 15 Medis ICG monitors

-- ICG sensor revenue increased 1% to $1.7 million, comprising 28% of total sales, and increased 14% sequentially over first quarter 2008

-- International and new market revenue grew 11% to $782,000

Key Financial Results of Second Quarter 2008 Compared with Second Quarter 2007

-- Gross profit margin was 71%, up from 63%

-- Operating loss was $476,000, an improvement of $1.0 million, or 68%, from $1.5 million

-- Net loss was reduced 62% to $732,000, or ($0.10) per diluted share, from a net loss from continuing operations of $1.9 million, or ($0.28) per diluted share

-- Operating cash use was $490,000, down 43%, from an operating cash use from continuing operations of $860,000

-- Cash, cash equivalents and short-term investments at May 31, 2008, of $6.9 million, up 47% from $4.7 million at May 31, 2007

Additional Key Operating Milestones for the Second Quarter 2008

-- Released significant ICG study demonstrating nearly three times the national average blood pressure contr
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SOURCE CardioDynamics
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