IRVINE, Calif., May 15 /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 first quarter ended March 31, 2009. Highlights of the quarter include a modest year-over-year increase in revenue and strong margins.
Total revenues for the first quarter of 2009 were $8.2 million, up from $8.1 million in the year-earlier period. Sequentially, revenues increased four percent from $7.9 million in the fourth quarter of 2008. Domestic probe sales, as well as the estimated number of domestic cryoablation procedures performed, in the first quarter of 2009 and 2008 are summarized in the following table:
Three months ended Year ended December 31, March 31, 2006 2007 2008 2008 2009 Estimated domestic cryoablation procedures 7,802 9,373 9,358 2,568 2,352 Number of cryoprobes sold: Straight probes 33,598 38,909 37,029 10,283 8,841 Right-angle probes 4,590 6,308 8,113 1,920 2,181 Total 38,188 45,217 45,142 12,203 11,022
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 this year's first quarter improved to 71.4 percent, compared to 69.2 percent in the prior year period and 64.4 percent in the 2
|SOURCE Endocare, Inc.|
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