Scott, Chief Financial Officer
Corporation Reports Second Quarter 2007 Results
$3 Million Warrant Repurchase Program
Calif., August 14, 2007 -- Alsius Corporation (Nasdaq: ALUS), a worldwide leader
in advanced patient temperature management therapies today reported financial
results for its second quarter ended June 30, 2007. Revenue for the quarter
increased 108% to $2.5 million, compared with $1.2 million in the second quarter
of 2006. Gross margin increased to $0.3 million, up from $(0.3) million in
second quarter of 2006. Net loss for the second quarter of 2007 increased 11%
$5 million or $0.42 per share, from $4.5 million or $0.41 per share for the
second quarter of 2006. The company’s financial results are being
reported for the first time since its listing on NASDAQ on July 12, 2007 as
result of its June 21 merger with Ithaka Acquisition Corporation.
quarter’s revenue growth reflects Alsius’ continued penetration of worldwide
markets, a growing installed base of CoolGard systems, and increased catheter
utilization. In addition, our gross margin gains reflect manufacturing
improvements from increased production. Our net loss widened, as expected,
made investments to drive further market penetration with an enhanced sales
marketing infrastructure,” said Bill Worthen, President and CEO.
also indicated that shortly after the close of the second quarter the company
had been awarded an exclusive three-year sales, marketing and customer service
contract from Amerinet, a market leading hospital group purchasing organization
(GPO) serving more than 2,200 acute care facilities across the country. The
agreement positions Alsius as the only provider to Amerinet hospitals of
intravascular temperature management systems to administer patient cooling
9, 2007, Alsius' board of directors authorized a warrant repurchase
program that enables the company to deploy up to $3 million to
repurchase outstanding warrants from time to time in the open market,
through block trades or otherwise, pursuant to applicable securities laws.
Depending on market conditions and other relevant factors, Alsius may begin
or suspend repurchases at any time without any prior notice. Any warrants
acquired through the repurchase program will be cancelled. No time limit was
for completion of the program.
and Financial Guidance
guidance for full-year 2007 revenues is in the range of $11.5 to $12.5
commented, “We expect our historically robust revenue growth rate to
continue. We believe our high closure rate and recent
wins clearly position us as the technologically superior
The following information was filed by Alsius Corp on Tuesday, August 14, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.