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Fourth quarter 2008 revenue improved more than 40 percent to an expectedquarterly record of approximately $3.8 million, compared with $2.7 million inthe fourth quarter of 2007. Full year 2008 revenue is expected to beapproximately $12.4 million, an annual record, compared with $9.1 million forthe full year of 2007. Complete fourth quarter and year-end results will befinalized and reported in early March after completion of the annual audit.
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In addition to strong revenue, the number of systems and catheters Alsiussold in the United States during the fourth quarter of 2008 also marked a newhigh. Sales in Europe increased solidly from the previous year, as well.
"The achievement of record revenue in each of the last three quarters,especially in today's tough capital spending environment, is a testament totwo factors: quality products addressing a significant need and adeptexecution," said Bill Worthen, president and CEO of Alsius. "Expandingawareness among healthcare providers of our IVTM solutions is serving toincrease U.S. demand. We are seeing temperature management increasinglyincorporated into treatment protocols, as is evidenced by New York City'srecent requirement that therapeutic cooling must be available to cardiacarrest victims transported in city ambulances. This growing recognitioncoupled with the hard work of the Alsius team served to deliver recordresults. In addition, we were able to build our pipeline of leads during thequarter, which further confirms our belief in the opportunity and we expectwill lead to additional success in 2009."
Effective January 1, 2009, New York City ambulances can only transportcardiac arrest victims to hospitals that have therapeutic cooling equipment,such as Alsius systems. The requirement was announced in December 2008 by theChief Medical Officer of New York City's Fire Department and Emergency MedicalService.
About Alsius
Alsius, headquartered in Irvine, Calif., is a medical device company thatdevelops, manufactures and sells proprietary products to precisely controlpatient temperature in hospital critical care settings. Controlling bodytemperature, through cooling and warming, is becoming the standard of care forpatients in select critical conditions and those undergoing a variety ofsurgical procedures. Alsius markets a comprehensive suite of catheter-basedintravascular temperature management products that address the need foreffective, accurate, easy-to-use and cost-effective control of bodytemperature in critical care patients. For more information, visithttp://www.alsius.com.
Safe Harbor
This press release contains statements regarding plans and expectationsfor the future that constitute forward-looking statements within the meaningof the Private Securities Litigation Reform Act of 1995. All statements otherthan statements of historical fact are forward-looking. Such forward lookingstatements, based upon the current beliefs and expectations of Alsius'management, are subject to risks and uncertainties, which could cause actualresults to differ materially from those described in the forward-lookingstatements. The information set forth herein should be read in light of suchrisks. Significant risks facing Alsius include, but are not limited to: (1)the fact that Alsius has not been able to finance operations with cashgenerated from its business, and must obtain additional financing by the endof the second quarter of 2009 to repay bank debt and fund operations, whichmay not be available or may be available only on unfavorable terms, (2) thelong sales cycle for Alsius systems, which may cause revenue and operatingresults to vary significantly quarter to quarter and year to year, and (3) thefact that Alsius' regulatory clearances in the United States are limited tofever control in neuro-intensive care patients and temperature management incardiac and neuro surgery patients, and do not include clearance for cardiacarrest, a major market for which use of the Alsius products is considered offlabel in the United States. Additional information concerning the risks anduncertainties Alsius faces are contained in Alsius' filings with theSecurities and Exchange Commission, which can be accessed electronically onthe Securities and Exchange Commission website at http://www.sec.gov or on theInvestor Relations section of Alsius' website at http://www.alsius.com.
SOURCE Alsius Corporation
