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
|SOURCE Endocare, Inc.|
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