Exhibit 99.1

 
Image
 
CONTACT:
WeissComm Partners
Julio Cantre, 415-946-1055
jcantre@wcpglobal.com
 

Alsius Corporation Reports Record Second Quarter 2008 Financial Results and Business Progress
 
Achieves $3 million quarterly revenue milestone for the first time in company history
 
U.S. revenues increase 60 percent versus second quarter last year
 
IRVINE, Calif., August 7, 2008 -- Alsius Corporation (Nasdaq: ALUS), the worldwide leader in intravascular temperature management (IVTM™) therapies for critically ill patients, today reported on its financial results and business progress for the second quarter and six months ended June 30, 2008.
 
Revenue for the second quarter of 2008 increased 20 percent to $3.0 million, compared to $2.5 million in the second quarter of 2007. Revenue for the six months ended June 30, 2008 increased 22 percent to $5.5 million, compared to $4.5 million for the same period in 2007. The increase in revenue in the quarter and six months ended June 30, 2008 was attributable primarily to increased sales in the U.S., where revenue grew 60 percent in the second quarter 2008 and 51 percent in the first half of 2008, compared to the same respective periods in 2007.
 
"We are proud to report the strongest quarter and half-year in Alsius history, which is a direct result of our investment in creating awareness in the U.S. of our leading intravascular temperature management solutions," said Bill Worthen, President and CEO of Alsius. “We remain excited because, in addition to our revenue increases, our pipeline of leads continued to grow last quarter, reflecting greater interest among U.S. critical care specialists. The increase in our pipeline is an important factor as we strive to penetrate the critical care market with our IVTM solution"
 
Additional Second Quarter and First Half 2008 Financial Results
 
In the second quarter of 2008, gross profit was $0.96 million, compared to $0.33 million in the second quarter of 2007. In the first half of 2008, gross profit was $1.5 million, compared to $0.41 million for the same period in 2007.
 
As a percentage of revenue, cost of revenue decreased to 68 percent of sales for the second quarter 2008, from 87 percent of sales for the second quarter of 2007. As a percentage of revenue, cost of revenue decreased to 72 percent of sales for the first half of 2008, from 91 percent of sales for the first half of 2007. The percentage decrease was primarily due to the realization of cost reduction programs and higher average selling prices as a result of an increase in sales in the U.S.
 

The following information was filed by Alsius Corp on Thursday, August 7, 2008 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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