L. Scott, 949-453-0150
Corporation Reports Third Quarter 2007 Financial Results
to Host Conference Call/Webcast at 4:30p.m. Eastern Time
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.
Quarter 2007 Financial Results
for the third quarter of 2007 was $1.9 million, compared to $1.8 million in
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.
believe the continued adoption of our intravascular temperature management
systems, and improving catheter utilization rates, represents the beginning
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
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
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 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.
Highlights and Accomplishments
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
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.