Health & Fitness
Health and Fitness
Health and Fitness
Fri, December 19, 2008
Thu, December 18, 2008
Spectranetics International, B.V. Achieves New Sales Milestone
COLORADO SPRINGS, Colo.--([ BUSINESS WIRE ])--Spectranetics Corporation (Nasdaq:SPNC) today announced that Spectranetics International, B.V., its European subsidiary, has recently achieved year to date record revenue of $10 million – a new milestone for the subsidiary. In 2007, Spectranetics International, B.V. generated revenue of $7.7 million.
"I am proud of the performance of our European organization, which generated 52% year-over-year revenue growth for the nine months ended September 30, 2008 on top of the solid 37% revenue growth in 2007," said Emile J. Geisenheimer, Chairman, President and Chief Executive Officer of Spectranetics. "In addition to strong sales in both our vascular intervention and lead management product lines, our international operations accounted for more than 50% of worldwide sales of the aspiration and thrombectomy products during the first full quarter following our commercialization of these products. The growing enthusiasm for Spectranetics products in the international marketplace positively reflects our unique technology as well as the key relationships that our European team is building under the leadership of Shar Matin."
Spectranetics International, B.V. is a wholly-owned subsidiary of Spectranetics and accounts for approximately 11% of the Company's worldwide revenue. It serves customers in Germany, Belgium, the Netherlands and France through an 11-person direct sales organization, and the rest of Europe and the Middle East through distributors. Spectranetics also serves international markets in Asia-Pacific and Latin America, primarily through distributors, which accounts for approximately 2% of worldwide revenue.
About Spectranetics
Founded in 1984, Spectranetics manufactures and sells the only excimer laser approved in the United States, Europe and Japan for use in minimally invasive cardiovascular procedures. This technology treats complex cardiovascular conditions by photo-ablating multiple lesion types into tiny particles that are easily absorbed into the blood stream. The Company's disposable catheters use high-energy "cool" ultraviolet light to vaporize arterial blockages in the legs and heart, as well as scar tissue encapsulating pacing and defibrillation leads. For more information visit [ www.spectranetics.com ].
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties may include adverse results of the FDA and Immigration and Customs Enforcement investigation, adverse results of the SEC investigation or any securities litigation in which the Company or any of its officers or directors is a party, market acceptance of excimer laser atherectomy technology, increasing price and product competition, increased pressure on expense levels resulting from expanded sales, marketing, product development and clinical activities, uncertain success of the Company's strategic direction, dependence on new product development, intellectual property claims of third parties, availability of inventory from suppliers, the receipt of FDA approval to market new products or applications and the timeliness of any approvals, market acceptance of new products or applications, product defects, ability to manufacture sufficient volumes to fulfill customer demand, availability of vendor-sourced components at reasonable prices, unexpected delays or costs associated with the Company's relocation and consolidation of its headquarters and manufacturing operations, and price volatility due to the initiation or cessation of coverage, or changes in ratings, by securities analysts. For a further list and description of such risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from any anticipated results, performance or achievements, please see the Company's previously filed SEC reports. Spectranetics disclaims any intention or obligation to update or revise any financial projections or forward-looking statements, whether as a result of new information, future events or otherwise.
