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MINRAD International, Inc. Announces 2007 Financial Results

ORCHARD PARK, N.Y., March 31 /PRNewswire-FirstCall/ -- MINRAD International, Inc. (Amex: BUF) today announced its financial results for the year and quarter ended December 31, 2007.

(in thousands,

except per share data) Year Ended Variance

December 31, December 31, $ %

2007 2006

Revenue $12,952 $16,341 $(3,389) (21)%

Cost of goods sold 13,518 10,754 2,764 26%

Gross profit (loss) (566) 5,587 (6,153) (110)%

Gross margin (4)% 34%

Operating Expenses

Sales & marketing 8,407 5,074 3,333 66%

Research & development 5,404 2,916 2,488 85%

Finance & administrative 4,375 4,636 (261) (6)%

Total Operating

Expenses 18,186 12,626 5,560 44%

Net loss available to

common shareholders $(18,798) $(7,272) $(11,526) 159%

Earnings per share

(basic and diluted) $(0.39) $( 0.20) $(0.19)


(in thousands) Year Ended Variance

December 31, December 31, $ %

2007 2006


Sevoflurane $8,378 $10,538 $(2,160) (21)%

Other inhalants 4,107 5,712 (1,605) (28)%

Total Anesthesia &

Analgesia 12,485 16,250 (3,765) (23)%

Image Guidance 467

SOURCE MINRAD International, Inc.
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