Exhibit 99.1
For Immediate Release:
 

 
CONTACT:                  Alsius Corporation
                                       Brett L. Scott, 949-453-0150
                                       Chief Financial Officer
                                       bscott@alsius.com
 
Alsius Corporation Reports Third Quarter 2007 Financial Results
 
—Company to Host Conference Call/Webcast at 4:30p.m. Eastern Time Today—

 
Irvine, Calif., November 13, 2007 -- Alsius Corporation (Nasdaq: ALUS), a worldwide leader in advanced patient temperature management therapies, today reported financial results for its third quarter ended September 30, 2007.
 
 
Third Quarter 2007 Financial Results
 
Revenue for the third quarter of 2007 was $1.9 million, compared to $1.8 million in the third quarter of 2006. Net loss for the third quarter of 2007 was $5.3 million, or $0.29 per share, compared to $4.6 million, or $0.42 per share, for the third quarter of 2006.  
 
“We believe the continued adoption of our intravascular temperature management systems, and improving catheter utilization rates, represents the beginning of a much broader market opportunity,” said Bill Worthen, President and CEO of Alsius.  “The critical care community is increasingly recognizing the importance of body temperature as a vital sign, and we believe healthcare providers are recognizing that Alsius systems provide patients with improved outcomes. This is evident in our U.S. sales, which were the highest ever in the third quarter.”
 
In the third quarter of 2007, gross profit was $0.6 million, compared to $0.3 million in the third quarter of 2006. Total operating expenses in the third quarter of 2007 were $5.8 million compared to $2.7 million in the same period of 2006.  Included in the cost of revenue and operating expenses for the third quarter of 2007 were non-cash, stock compensation expenses of $1.9 million compared to less than $0.1 million for the third quarter of 2006.
 
Cash and cash equivalents were $29.5 million at September 30, 2007, compared to $0.6 million at December 31, 2006. Cash used during the third quarter of 2007 included repayment of debt, redemption of common stock following Alsius' merger with Ithaka in June 2007, and the warrant repurchase program announced in the third quarter, which has been suspended for the time being.
 
 
Recent Highlights and Accomplishments
 
During the third quarter, Alsius announced that it was awarded an exclusive three-year sales, marketing and customer service contract from Amerinet.  Amerinet is a leading hospital group purchasing organization serving more than 2,200 acute care facilities across the country.  The agreement positions Alsius as the sole provider of intravascular temperature management systems to Amerinet hospitals.

-1-

The following information was filed by Alsius Corp on Tuesday, November 13, 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.

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