AtriCure Reports Preliminary Financial Results for Third Quarter 2018
Preliminary and unaudited revenue for the third quarter of 2018 is
expected to be approximately
“Our third quarter performance demonstrated continued strong revenue
growth and operational performance driven by our Appendage Management
and Open franchises. In addition to achieving revenue growth of 18.5%
over the third quarter of 2017, we recently completed enrollment in the
CONVERGE™ pivotal trial, surpassed the 150,000 AtriClip® milestone and
benefitted from sales of our AtriClip PRO•V® and Flex•V® products, which
launched in the past year,” said
Management intends to provide an update to 2018 guidance concurrent with
the release of full third quarter 2018 financial results on the third
quarter conference call, expected to be held on
About AtriCure
Forward-Looking Statements
This press release contains “forward-looking statements”– that is, statements related to future events that by their nature address matters that are uncertain. For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, visit http://www.atricure.com/fls as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors. We do not undertake to update our forward-looking statements.
Use of Non-GAAP Financial Measures
To supplement AtriCure’s condensed consolidated financial statements
prepared in accordance with accounting principles generally accepted in
Revenue reported on a constant currency basis is a non-GAAP measure and is calculated by applying previous period foreign currency exchange rates, which is determined by the average daily Euro to Dollar exchange rate, to each of the comparable periods. Management analyzes revenue on a constant currency basis to better measure the comparability of results between periods. Because changes in foreign currency exchange rates have a non-operating impact on revenue, the Company believes that evaluating changes in revenue on a constant currency basis provides an additional and meaningful assessment of revenue to both management and the Company’s investors.
The non-GAAP financial measures used by
View source version on businesswire.com: https://www.businesswire.com/news/home/20181003005818/en/
Source:
AtriCure, Inc.
Andy Wade, 513-755-4564
Senior Vice President
and Chief Financial Officer
awade@atricure.com
or
Gilmartin
Group
Lynn Pieper Lewis, 415-937-5402
Investor Relations
lynn@gilmartinir.com