Endologix Reports 42% Second Quarter 2009 Reve...( IRVINE Calif. Jul...),Health

IRVINE, Calif., July 22 /PRNewswire-FirstCall/ -- Endologix, Inc. (Nasdaq: ELGX), developer of minimally invasive treatments for aortic disorders, today announced financial results for the three months ended June 30, 2009.

"During the second quarter we continued to benefit from our recent new product launches and investments in our sales organization, leading to 42% year-over-year revenue growth and our first full quarter of positive cash flow from operations," said John McDermott, Endologix President and Chief Executive Officer. "We believe these results are indicative of the strength of our product differentiation and our ability to gain market share. As such, we have increased our full year 2009 revenue guidance to a range of $51 to $53 million."

Mr. McDermott continued, "We accelerated the full domestic launch of the IntuiTrak(TM) Express Delivery System into the second quarter based on very positive feedback during its limited release in early 2009. We believe this next generation product enhances our ability to strengthen customer relationships by offering a single low-profile delivery platform that can be utilized to treat a wide variety of patient anatomies, including those with aortic necks up to 32 mm in diameter. Physicians continue to provide positive feedback on IntuiTrak's clinical benefits, flexibility and ease-of-use and we look forward to further broadening our customer base."

Financial Results

Total revenue in the second quarter of 2009 was $13.2 million, a 42% increase from $9.3 million in the second quarter of 2008, and an 11% increase from $11.8 million in the first quarter of 2009. Domestic revenue was $11.4 million, a 45% increase compared with $7.9 million in the second quarter of 2008, and a 12% increase compa
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