Intravascular ultrasound developer EndoSonics reported improved financial results for fiscal 1999 (end-December 31). The Rancho Cordova, CA-based firm had revenues of $48.2 million, up 9.3% compared with the $44.1 million reported in 1998. Net loss was $1.1 million, compared with a net loss of $7.8 million last year.
Fourth-quarter figures were less positive, however. Revenues were $11.7 million, down 12% from the $13.3 million reported in the same period last year. The firm had a net loss of $1 million, compared with net income of $2.6 million in 1998.
In future plans, EndoSonics will continue to expand its direct sales force, and introduce several new products. New technology on the horizon includes a second-generation version of WaveWire, a peripheral vascular catheter that provides intravascular ultrasound (IVUS) support for the repair of abdominal aortic aneurysms. The firm said it also plans to release an improved IVUS catheter. EndoSonics will also debut an IVUS-guided stenting device in a bid to increase its presence in the cardiovascular therapy market.
By AuntMinnie.com staff writersFebruary 18, 2000
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