Interventional device firm ev3 of Plymouth, MN, said that its net sales increased by nearly 50% for its 2007 fiscal first quarter.
The company reported net sales of $61.5 million for the period (end-April 1), a 46% increase compared with net sales of $42.2 million in the same period of the 2006 fiscal year. The developer said it would provide full financial results for the quarter and adjusted guidance later this month.
In other news, ev3 has filed a registration statement relating to a secondary offering of $175 million of its common stock. ev3 plans to offer $50 million of common stock, and two stockholders, Warburg Pincus and the Vertical Group, are offering $125 million of common stock. The company said it intends to use the net proceeds from the offering for working capital and general corporate purposes.
By AuntMinnie.com staff writers
April 3, 2007
Related Reading
ev3 gets FDA approval for Protege RX, January 25, 2007
ev3 stent gets FDA, CE nods for Protégé, March 10, 2006
ev3 stent gets 510(k), October 21, 2004
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