Micro Therapeutics, Inc. Reports Sales Results for Second Quarter 2005
06 Julho 2005 - 7:30PM
PR Newswire (US)
Micro Therapeutics, Inc. Reports Sales Results for Second Quarter
2005 Net Sales Grow to $13.1 Million, a 44% Increase Compared to
Second Quarter 2004 IRVINE, Calif., July 6 /PRNewswire-FirstCall/
-- Micro Therapeutics, Inc. (MTI) (NASDAQ:MTIX), an endovascular
medical device company focused on neurovascular disease and
disorders, reported today net sales results for its fiscal second
quarter ended July 3, 2005. Second quarter net sales results also
were reported today by MTI's majority shareholder, ev3 Inc.
(NASDAQ:EVVV). Net sales in the 2005 second quarter were $13.1
million, an increase of 44% versus net sales of $9.1 million in the
second quarter of 2004, and an increase of 15% compared with net
sales of $11.4 million in the first quarter of 2005. Compared with
the year ago quarter, the primary contributors to the increase in
MTI's second quarter net sales were the company's neuro embolic
products, net sales of which increased by 32% to $4.2 million, and
neuro access and delivery products, net sales of which increased by
58% to $8.1 million. Geographically, MTI's second quarter net sales
in the United States increased by 42% to $4.3 million, and second
quarter international net sales increased by 44% to $8.8 million.
For the six months ended July 1, 2005, MTI's net sales totaled
$24.5 million, an increase of 47% compared to net sales during the
first six months of 2004. Consistent with results for the second
quarter, the primary contributors to the increase in MTI's net
sales growth for the first six months were the company's
neurovascular products. About Micro Therapeutics, Inc. Micro
Therapeutics develops, manufactures and markets minimally invasive
medical devices for the diagnosis and treatment of vascular
disease. The company is focused on catheter-based, or endovascular,
technologies for the minimally invasive treatment of neurovascular
disorders of the brain associated with stroke. MTI's products
include: the Tetris(R) and NXT(R) lines of embolic coils; the
Onyx(R) liquid embolic; and a range of access and delivery products
that include micro delivery catheters, balloon catheters, and
guidewires. Statements contained in this press release that are not
historical information are forward-looking statements as defined
within the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
projected or implied. Such potential risks and uncertainties
relate, but are not limited, to, in no particular order: product
demand and market acceptance, the impact of competitive products
and pricing, and success of clinical testing. More detailed
information on these and additional factors which could affect
Micro Therapeutics, Inc.'s operating and financial results are
described in the company's Forms 10-Q, 10-KSB, and other reports,
filed or to be filed with the Securities and Exchange Commission.
Micro Therapeutics, Inc. urges all interested parties to read these
reports to gain a better understanding of the many business and
other risks that the company faces. Additionally, Micro
Therapeutics, Inc. undertakes no obligation to publicly release the
results of any revisions to these forward-looking statements, which
may be made to reflect events or circumstances occurring after the
date hereof or to reflect the occurrence of unanticipated events.
DATASOURCE: Micro Therapeutics, Inc. CONTACT: Thomas C. Wilder,
Micro Therapeutics, Inc., +1-949-837-3700; or Rob Whetstone or
Robert Jaffe, both of Pondel Wilkinson Inc., +1-310-279-5963, for
Micro Therapeutics, Inc.
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