• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Alsius Corporation Pre-Releases Third Quarter 2007 Results

Posted on: Friday, 12 October 2007, 09:00 CDT

Alsius Corporation (Nasdaq:ALUS), the worldwide leader in intravascular temperature management products, today pre-released preliminary unaudited financial results for its third quarter ended September 30, 2007, indicating that revenues will be below expectations. Revenue for the third quarter was $1.9 million, compared with $1.8 million in the third quarter of 2006. The revenue shortfall was greater in Europe than in the U.S., where the company had its strongest quarterly revenue in history. Alsius also said that its forecast of year-end revenues of $11.5 - $12.5 million will probably not be achieved, and is now estimated to be in the $8.5 -- 9.5 million range.

"The quarter's revenue reflects increasing competitive activity in both the U.S. and Europe. We have a large number of hospitals evaluating our products and while we are not losing business, we are not closing the sale as fast as expected, given the process hospitals must go through as they implement new protocols and adopt next-generation cooling technology," said Bill Worthen, President and CEO.

Mr. Worthen indicated that the company will continue to focus on educating hospitals and physicians on the benefits of intravascular temperature management compared to other available options. "We believe the interest in next-generation temperature regulation technology is stronger than ever, and our goal to establish Alsius as the leading solution in the space remains the same."

ABOUT ALSIUS

Alsius, headquartered in Irvine, CA, is a commercial-stage medical device company that develops, manufactures and sells proprietary products to precisely control patient temperature in hospital critical care settings. Controlling body temperature, through cooling and warming, is becoming the standard of care for patients in certain critical conditions and those undergoing a variety of surgical procedures. Alsius markets a comprehensive suite of catheter-based intravascular temperature management products that address the need for effective, accurate, easy-to-use and cost-effective control of body temperature in critical care patients.

Alsius' products consist of the CoolGard and Thermogard systems and three families of single-use catheters. The systems are computer-controlled temperature regulation units that circulate cool or warm saline in a closed-loop through balloons that surround the catheters. Alsius' catheters are inserted into a major vein through a patient's neck or groin and achieve rapid and precise temperature management through contact with the patient's blood flow. Unlike conventional external temperature management products, such as cooling and warming blankets and ice packs, Alsius' intravascular products cool and warm the patient from the inside out, more effectively managing body temperature and allowing caregivers easier access to administer patient care. For more information, visit www.alsius.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Alsius' future business performance and expectations. Forward-looking statements are typically identified by words or phrases such as "believe,""expect,""position,""achieve," and similar expressions. These statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ significantly from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the company's filings with the Securities and Exchange Commission. The company undertakes no duty to update any forward-looking statements made herein, except as required by law.

Source: Business Wire

More News in this Category