WEST CHESTER, Ohio--(BUSINESS WIRE)--Jan. 7, 2013--
AtriCure, Inc. (Nasdaq: ATRC), a medical device company and a leader in
cardiac surgical ablation systems for the treatment of atrial
fibrillation, or AF, and systems for the exclusion of the left atrial
appendage, in anticipation of investor meetings in San Francisco during
the week of January 7, is announcing preliminary financial results for
fourth quarter and full year 2012.
Preliminary revenue for the fourth quarter of 2012 is expected to be
approximately $18.4 million, reflecting growth of approximately 9.5%
over the fourth quarter of 2011. Based on these preliminary estimates,
revenue from U.S. customers is expected to be $13.7 million, reflecting
growth of 10.2%, and revenue from international customers is expected to
be $4.7 million, reflecting growth of 7.7%, or 10.0% on a constant
Preliminary revenue for full year 2012 is expected to be $70.2 million,
reflecting year over year growth of 9.1% over full year 2011.
"We are pleased to report preliminary fourth quarter and full year 2012
results which provide a strong growth platform from which we can
continue to build. In my first two months at AtriCure, I have spent
considerable time evaluating the strategic and operational aspects of
the company through in depth conversations with employees, clinical
partners, customers, and shareholders. I have found many strengths – we
have truly differentiated technology, solid customer relationships, an
unparalleled training program, and a talented and committed group of
employees. In 2013, in order to drive sustainable revenue growth, we
will have additional focus on our commercial platform, strategic
marketing effort, and our financial and operational discipline,” said
Mike Carrel, President and Chief Executive Officer of AtriCure.
Mr. Carrel continued, “I am confident in our ability to further develop
and expand the field of atrial fibrillation and position AtriCure to
achieve its full potential, creating value for customers and
shareholders. I look forward to providing additional detail on our
growth strategy when we release our final 2012 results in late February."
About AtriCure, Inc.
AtriCure, Inc. is a medical device company and a leader in developing,
manufacturing and selling innovative cardiac surgical ablation systems
designed to create precise lesions, or scars, in cardiac, or heart,
tissue for the treatment of atrial fibrillation, or AF, and systems for
the exclusion of the left atrial appendage. The Company believes
cardiothoracic surgeons are adopting its ablation products for the
treatment of AF during concomitant open-heart surgical procedures and
sole-therapy minimally invasive procedures. AF affects more than 5.5
million people worldwide and predisposes them to a five-fold increased
risk of stroke. The FDA has not cleared or approved certain AtriCure
products for the treatment of AF or a reduction in the risk of stroke.
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements that address activities,
events or developments that AtriCure expects, believes or anticipates
will or may occur in the future, such as earnings estimates, other
predictions of financial performance, launches by AtriCure of new
products and market acceptance of AtriCure’s products. Forward-looking
statements are based on AtriCure’s experience and perception of current
conditions, trends, expected future developments and other factors it
believes are appropriate under the circumstances and are subject to
numerous risks and uncertainties, many of which are beyond AtriCure’s
control. These risks and uncertainties include the rate and degree of
market acceptance of AtriCure’s products, AtriCure’s ability to develop
and market new and enhanced products, the timing of and ability to
obtain and maintain regulatory clearances and approvals for its
products, the timing of and ability to obtain reimbursement of
procedures utilizing AtriCure’s products, competition from existing and
new products and procedures or AtriCure’s ability to effectively react
to other risks and uncertainties described from time to time in
AtriCure’s SEC filings, such as fluctuation of quarterly financial
results, reliance on third party manufacturers and suppliers, litigation
or other proceedings, government regulation and stock price volatility.
AtriCure does not guarantee any forward-looking statement, and actual
results may differ materially from those projected. AtriCure undertakes
no obligation to publicly update any forward-looking statement, whether
as a result of new information, future events or otherwise.
Source: AtriCure, Inc.
Andy Wade, Vice
President, Finance, 513-755-4564
Lynn Pieper, Westwicke Partners, 415-202-5678