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Endocare Reports 2008 Annual and Fourth Quarter Financial Results
Date:3/6/2009

IRVINE, Calif., March 6 /PRNewswire-FirstCall/ -- Endocare, Inc. (Nasdaq: ENDO), an innovative medical device company focused on the development of minimally invasive technologies used by urologists and interventional radiologists for tissue and tumor ablation, today reported results for the fourth quarter and year ended December 31, 2008. Highlights of the quarter included a 14 percent increase in revenue compared to the fourth quarter of 2007 and the announcement of a definitive merger agreement with privately-held Galil Medical Ltd.

Fourth Quarter Results

Total revenues for the fourth quarter of 2008 were $7.9 million, compared to $6.9 million in the fourth quarter of 2007. Domestic probe sales, as well as the estimated number of domestic cryoablation procedures performed, in the fourth quarter and full year of 2008 and 2007 are summarized in the following table:


                                 Three Months Ended   Year Ended
                                     December 31,     December 31,
                                     2008   2007      2008   2007

    Estimated domestic cryoablation
     procedures                      2,236  2,269     9,358  9,373

    Number of cryoprobes sold:
       Straight probes               9,012  9,057    37,029 38,909
       Right-angle probes            2,055  1,671     8,113  6,308

    Total                           11,067 10,728    45,142 45,217

Probe sales are reported in two categories: straight probes, which are typically, although not always, used in prostate procedures and right-angle probes, which are typically used in procedures other than prostate procedures.

Gross margin in the fourth quarter of 2008 was 64.4 percent, compared to 67.1 percent in the fourth quarter of 2007. Gross margin was affec
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SOURCE Endocare, Inc.
Copyright©2009 PR Newswire.
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