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ATS Medical Announces Third Quarter 2009 Results
Date:11/2/2009

MINNEAPOLIS, Nov. 2 /PRNewswire-FirstCall/ -- ATS Medical, Inc. (Nasdaq: ATSI), manufacturer and marketer of state-of-the-art cardiac surgery products and services, today reported financial results for its third quarter ended October 3, 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040202/ATSILOGO)

Third Quarter 2009 Results

Revenue for the quarter was $18.8 million, or 17.3% higher than the third quarter of 2008. Revenue from the Company's heart valve therapy products, consisting of mechanical valves, tissue valves and repair products, was up 20.5% on a year-over-year basis to $14.2 million. Revenue from the Company's ATS CryoMaze® cryoablation products for the treatment of cardiac arrhythmias was $4.5 million, an increase of 12.0% compared to the third quarter of 2008. Excluding the impact of foreign currency fluctuations revenue growth for the quarter was 19.4% overall, 23.0% for heart valve therapy products and 12.6% for cryoablation products.

Gross profit margin for the third quarter of 2009 was 62.9% vs. 59.1% in the third quarter of 2008, continuing the trend of significant margin improvement. Year-over-year gross margin improvements were primarily the result of lower mechanical valve and ATS CryoMaze product costs resulting from increased production.

Operating loss for the third quarter of 2009 was $0.6 million compared with an operating loss of $2.8 million in the third quarter of 2008. The net loss for the third quarter of 2009 was $1.0 million, or $0.01 per share, compared with $3.7 million, or $0.06 per share, in the third quarter of 2008.

The Company also reported non-GAAP earnings before interest, taxes, d
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SOURCE ATS Medical, Inc.
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