ATS Medical, Inc, a company that provides innovative products and services focused on cardiac surgery, announced first quarter 2008 revenue results. ATS expects revenue for the first quarter 2008 to be between $14.6 and $14.8 million, which is approximately 6% more than the revenue generated for the first quarter 2007.
Revenues from ATS's mechanical heart valves are expected to exceed $5.0 million and represent about 34% of total revenue during the first quarter of 2008. The company expects to release its first quarter results on May 5, 2008.
Michael Dale, Chairman, President and CEO of ATS said, "The first quarter was a strong start to 2008, with higher revenue across all our business segments. ATS CryoMaze(TM) surgical ablation revenue was especially strong, up approximately 160% over the prior year’s first quarter. We were also pleased with the continued increase in revenue from mechanical heart valves internationally, up approximately 32% from last year."
Mr. Dale continues to say, "While we continue to seek FDA approval of our ATS 3f® Aortic Bioprosthesis tissue valve, we have maintained our focus on growing revenue in each of our other businesses, and witnessed sequential growth in every business segment, both domestically and internationally. We were also able to sequentially grow U.S. mechanical heart valve sales by over 10%, the second consecutive quarter of growth, due in part to a positive reception of our new ATS Open Pivot® AP360(TM) mechanical valve. We believe our diverse and highly differentiated product portfolio will be the key catalyst to continuing our growth throughout 2008, and are pleased that this quarter’s results reflect our execution across all segments."
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