Micro Therapeutics (NASDAQ:MTIX)
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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.