Endologix reported a net loss for the third quarter of 2009 of $156,000, or $0.00 per share, compared with a net loss of $3.0 million, or $0.07 per share, for the third quarter of 2008. For the nine months ended September 30, 2009, the Company reported a net loss of $1.8 million, or $0.04 per share, compared with a net loss of $10.4 million, or $0.24 per share, for the nine months ended September 30, 2008.
Total cash and cash equivalents were $21.1 million as of September 30, 2009, compared with total cash and cash equivalents of $7.6 million as of December 31, 2008. In August 2009, the Company raised net proceeds of $14.7 million in an underwritten public offering, and in September, made an unscheduled debt repayment of $4.5 million.
"During the third quarter we continued to improve our balance sheet, generating $2.7 million in positive cash flow from operations and raising net proceeds of $14.7 million in an underwritten public offering. In addition, we have paid off our bank debt, putting the Company in a strong financial position to execute on our growth strategy," stated Endologix Chief Financial Officer Bob Krist.
The Company is re-affirming its full year 2009 guidance of revenue in the range of $51 to $53 million.
Conference Call Information
Endologix management will host a conference call to discuss these topics today beginning at 5:00 p.m. Eastern time (2:00 p.m. Pacific time). To participate via teleph
|SOURCE Endologix, Inc.|
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