hatte ich in Posting 65 erwähnt. Am 15.07 gabs die Zahlen, das wollte ich abwarten und se nicht in die 29 KW eingebaut. Sicherlich einer der heissesten Stocks an der Nasdaq.
Gruss E.
chart.bigcharts.com/bc3/quickchart/...20&mocktick=1&rand=2128"
Vascular Solutions Announces Second Quarter Results and Issues Guidance On Launch of New Products and 2004 Sales Sales Guidance for 2004 Issued at 100% Annual Growth Over 2003 Worldwide Market Launch of D-Stat Dry and D-Stat Radial Expected in Q3 of
MINNEAPOLIS, Jul 15, 2003 /PRNewswire-FirstCall via COMTEX/ -- Vascular
Solutions, Inc. (Nasdaq: VASC) today announced results for its second quarter
ended June 30, 2003 and issued guidance on expected 2004 results. Net sales were
$2,724,721, a decrease of 18% from net sales of $3,328,529 in the second quarter
of 2002. The 18% decrease in net sales was in line with a 24% decrease in sales
and marketing expenses from the year-prior period. The company continues to
focus its direct sales force on efficiently maintaining sales of the Duett
sealing device while broadening the sales of the D-Stat flowable hemostat and
beginning the launch of the Vari-Lase endovenous laser procedure kit which
received 510(k) clearance on June 19, 2003. Net sales of the D-Stat flowable
hemostat in the second quarter of 2003 increased 78% from the second quarter of
2002 to $304,654, with pre-launch net sales of the Vari-Lase totaling $9,119 in
the second quarter of 2003.
The net loss for the first quarter of 2003 was $2,683,001, improving from a net
loss of $2,743,138 in the second quarter of 2002 primarily due to lowered
expenses in the sales and marketing area.
Vascular Solutions updated its guidance on the projected regulatory clearances
of the four new products it expects to launch in the second half of 2003 and
issued guidance on its sales estimates for 2004. "As we announced in June, we
received our 510(k) clearance of the Vari-Lase product slightly ahead of our
estimated timetable and are fully launching the product in the U.S. in July,"
commented Howard Root, Vascular Solutions' CEO. "During the second quarter, we
received a few questions from the FDA on the 510(k) applications for our D-Stat
Dry hemostatic bandage and D-Stat Radial hemostat band. We have submitted our
responses to the FDA and expect to resolve the issues and receive 510(k)
clearance for these two products within the next two months. The Pronto
extraction catheter is projected to receive CE mark approval by the end of
August for sales in Europe, and our 510(k) application for the Pronto is in
preparation and projected for filing and clearance in the U.S. by the end of the
fourth quarter," Mr. Root added.
Assuming that all four of the new products receive regulatory clearance before
the end of 2003, the company projects that its net sales for 2004 will increase
by 100% or more over its net sales for 2003 to between $25 million and $30
million. Projected revenue related to the new product introductions is estimated
at between $8 million and $10 million for the D-Stat Dry, between $4 million and
$6 million for the Vari-Lase, between $2 million and $3 million for the Pronto
and between $0.5 million and $1 million for the D-Stat Radial. The company also
believes that profitability is achieved at $7 million in quarterly net sales,
based on expected new product selling prices and manufacturing costs.
"We are extremely excited about the expected impending launch of our four new
products through our existing sales force to our existing target market," added
Mr. Root. "The very early reception to our Vari-Lase product has been excellent,
and we believe that our D-Stat Dry hemostatic bandage has the ability to capture
a large share of the $40 million and growing non-invasive hemostat market."
Vascular Solutions will host a live webcast starting at 3:30 p.m., Central Time
today to discuss the information contained in this press release. The live web
cast may be accessed on the investor relations portion of our web site at
www.vascularsolutions.com . Web participants are encouraged to go to the web
site at least 15 minutes prior to the start of the call to download and install
any necessary audio software. An audio replay of the call will be available
until Tuesday, July 22 by dialing 1-800-642-1687 and entering conference ID
#1595038. A recording of the call will also be archived on the investor
relations portion of the company's web site,
www.vascularsolutions.com until
Thursday, July 31. During the conference call the company may answer one or more
questions concerning business and financial developments and trends, the
company's view on earnings forecasts and new product development and financial
matters affecting the company, some of the responses to which may contain
information that has not been previously disclosed.
VASCULAR SOLUTIONS, INC.
CONDENSED STATEMENTS OF OPERATIONS
Three Months Ended Six Months Ended
June 30, June 30,
2003 2002 2003 2002
(unaudited) (unaudited)
Net sales $2,724,721 $3,328,529 $5,693,005 $6,131,948
Cost of
goods sold 1,085,592 1,326,260 2,308,183 2,533,178
Gross profit 1,639,129 2,002,269 3,384,822 3,598,770
Operating expenses:
Research and
development 1,070,536 762,501 1,904,107 1,659,626
Clinical and
regulatory 408,465 379,302 749,157 694,575
Sales and
marketing 2,381,941 3,112,935 5,057,324 6,588,094
General and
administrative 447,327 581,932 948,170 1,179,699
Amortization of
purchased
technology 54,375 36,250 108,750 36,250
Operating
loss (2,723,515) (2,870,651) (5,382,686) (6,559,474)
Interest income 40,514 127,513 102,664 265,338
Net loss $(2,683,001) $(2,743,138) $(5,280,022) $(6,294,136)
Basic and diluted
net loss per share $(.21) $(.20) $(.41) $(.47)
Shares used in
computing basic
and diluted net
loss per share 12,816,316 13,381,165 12,830,014 13,357,272
VASCULAR SOLUTIONS, INC.
CONDENSED BALANCE SHEETS
June 30, December 31,
2003 2002
(unaudited) (note)
ASSETS
Current assets:
Cash and cash equivalents $2,568,772 $1,835,059
Available for-sale-securities 8,013,223 14,914,444
Accounts receivable, net 1,339,008 1,357,946
Inventories 3,251,908 2,132,516
Prepaid expenses 206,413 326,773
Total current assets 15,379,324 20,566,738
Property and equipment, net 721,085 795,885
Intangible assets 808,845 917,595
Total assets $16,909,254 $22,280,218
LIABILITIES AND SHAREHOLDERS' EQUITY
Total current liabilities: $1,843,932 $1,910,985
Shareholders' equity:
Total shareholders' equity $15,065,322 $20,369,233
Total liabilities
and shareholders' equity $16,909,254 $22,280,218
Note: Derived from the audited balance sheet at that date.
ABOUT VASCULAR SOLUTIONS
Vascular Solutions, Inc. is an interventional medical device company with a
focus on sealing technologies. The company's primary product is the Duett
sealing device which combines an easy-to-use balloon catheter delivery mechanism
with a biological procoagulant mixture to enable cardiologists and radiologists
to rapidly seal the puncture site following catheterization procedures such as
angiography, angioplasty and stenting. In February 2002 the Company commenced
worldwide sales of its second product, the D-Stat flowable hemostat, which is
used in a wide variety of interventional procedures for the local management of
active bleeding. In April 2002 the Company acquired the Acolysis intravascular
therapeutic ultrasound product which is sold in international markets for the
treatment of peripheral occlusive arterial disease.
New products planned for introduction in the second half of 2003 consist of: the
Vari-Lase endovenous laser procedural kit used in endovenous laser therapy for
reflux of the great saphenous vein, commonly referred to as varicose veins; the
D-Stat Dry hemostatic bandage for the rapid control of surface bleeding in
interventional procedures; the D-Stat Radial hemostat band for the control of
bleeding following catheterizations utilizing the radial artery in the wrist;
and the Pronto extraction catheter for the mechanical extraction of soft
thrombus from the arterial system.
The information in this press release contains forward-looking statements that
involve risks and uncertainties. Our actual results could differ materially from
those anticipated in these forward-looking statements. Important factors that
may cause such differences include those discussed in our Annual Report on Form
10-K for the year ended December 31, 2002 and other recent filings with the
Securities and Exchange Commission. The risks and uncertainties include, without
limitation, risks associated with our limited operating history, adoption of our
new sealing methodology, reliance on a sole product, lack of profitability,
exposure to possible product liability claims, the development of new products
by others, dependence on third party distributors in international markets,
doing business in international markets, limited manufacturing experience, the
availability of third party reimbursement, actions by the FDA related to our
products, and the loss of key vendors.
For further information, connect to
www.vascularsolutions.com .
SOURCE Vascular Solutions, Inc.
CONTACT: Howard Root, CEO, or James Hennen, Director of Finance, both of
Vascular Solutions, Inc., +1-763-656-4300
URL:
www.vascularsolutions.com www.prnewswire.comCopyright (C) 2003 PR Newswire. All rights reserved.
KEYWORD: Minnesota
INDUSTRY KEYWORD: HEA
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SUBJECT CODE: ERN
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