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CryoCath Announces Fiscal 2008 Second Quarter Results
Date:5/12/2008

nding milestones in the weeks following." said Jan Keltjens, President and CEO of CryoCath. "The uptake of Arctic Front in Europe and other markets is strong and is fuelling global growth. Achieving the 270 consented patients milestone in the STOP AF trial is a significant step towards achieving our goal of U.S. approval. We are looking forward to completing therapies and obtaining 12-month follow-up data from the trial in the second calendar quarter of 2009. Supported by the successful financing, we can move full steam ahead and drive commercial expansion of Arctic Front, create the required capacity increase and support ongoing innovation."

Financial Results

The Company's total revenue reached $10.2 million in the second quarter of fiscal 2008, a 9.3% decline as compared to $11.3 million for the corresponding period in 2007, including sales from the divested surgical business of $3.8 million. For the six-month period ending March 31, 2008, total revenues were $18.9 million, a 11.3% decline as compared to $21.3 million in the same period a year ago, including sales from the divested surgical business of $7.3 million.

EP disposable revenues for the second quarter were $6.7 million, or a growth of 21.9% as compared to $5.5 million for the second quarter of 2007. U.S. sales of these products were $3.0 million, as compared to $3.6 million. This 17.2% decline was impacted by negative movements in exchange rate of 13.6%. OUS sales of these products were $3.7 million as compared to $1.9 million, or a growth of 98%.

Other EP revenues, which consist of console sales and rentals, as well as various accessories and services, for the second quarter were $3.5 million, a 82.9% growth, as compared to $1.9 million for the second quarter of 2007. US sales of these products were $2.0 million, a 39.8% increase as compared to $1.4 million. OUS sales of these products were $1.5 million, as compared to $0.5 million.

Gross profits for the second quarter
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SOURCE CryoCath Technologies Inc.
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6. CryoCath Announces Fiscal 2008 First Quarter Results
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8. CryoCath to Hold First Quarter 2008 Conference Call and Webcast
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