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Endologix Reports 41% Fourth Quarter 2010 Revenue Growth
Date:2/22/2011

IRVINE, Calif., Feb. 22, 2011 /PRNewswire/ -- Endologix, Inc. (Nasdaq: ELGX), developer of minimally invasive treatments for aortic disorders, today announced financial results for the three and twelve months ended December 31, 2010.

John McDermott, Endologix President and Chief Executive Officer, said, "We made tremendous progress in all areas of our business during the fourth quarter of 2010.  Revenue grew by 41% over the corresponding quarter of 2009, driven by our expanded sales force and the availability of new product sizes launched in the third quarter of 2010.  On the product development front, we completed the acquisition of Nellix, which represents the next generation in EVAR technology, and advanced our organic pipeline with the first patients treated with our Ventana™ fenestrated stent graft.  We believe these two new products will significantly expand the addressable AAA market and further secure Endologix as the innovation leader in the market."

Mr. McDermott added, "Looking to 2011, we believe we are well positioned to continue to gain market share and further separate Endologix's technology from the competition.  During the year we expect to roll out our new product sizes in Europe and other international markets, launch our new lower profile device, the AFX™ Endovascular AAA System, and complete patient enrollment in our PEVAR clinical trial.  We will also be focused on integrating Nellix and building the infrastructure for our direct sales force in Europe in anticipation of the 2012 launch of the Nellix and Ventana systems in this market.  Overall, there are significant near and long term growth drivers for our business that will allow us to meet our financial goals and drive toward market leadership."

Financial ResultsTotal revenue in the fourth quarter of 2010 was $19.2 million, a 41% increase fro
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SOURCE Endologix, Inc.
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