SOUTH JORDAN, Utah, July 10 Merit MedicalSystems, Inc. (Nasdaq: MMSI), a leading manufacturer and marketer ofproprietary disposable devices used primarily in cardiology and radiologyprocedures, announced today that sales for the second quarter ended June 30,2008 were approximately $57.4 million, an increase of 11% over the secondquarter of 2007, which the Company believes will produce earnings in the rangeof $0.19-$0.21 per share for the quarter. Gross margins for the secondquarter are estimated to be approximately 42.7%, which would result in anincrease of 500 basis points from the second quarter of 2007.
The Company cautioned that these estimates are unaudited and are subjectto modification or revision in the course of completing the Company's quarter-end financial review and audit of the Company's financial results.
Full details and final results will be reported at 4:00 p.m. Eastern Timeon Wednesday, July 23rd, 2008. Merit's management will hold a conference callto discuss the specifics the same day (July 23rd) at 5:00 p.m. ET. Thetelephone numbers to call are (domestic) 800-218-9073; and (international)303-205-0033. A live webcast will also be available for the conference callat www.merit.com and www.fulldisclosure.com . The webcast will be archived onboth sites.
Founded in 1987, Merit Medical Systems, Inc. is engaged in thedevelopment, manufacture and distribution of proprietary disposable medicaldevices used in interventional and diagnostic procedures, particularly incardiology and radiology. Merit serves client hospitals worldwide with adomestic and international sales force totaling approximately 90 individuals.Merit employs approximately 1,600 people worldwide, with facilities in SaltLake City and South Jordan, Utah; Angleton, Texas; Richmond, Virginia;Maastricht and Venlo, The Netherlands; and Galway, Ireland.
Statements contained in this release, which are not purely historical, areforward-looking statements within the meaning of the Private SecuritiesLitigation Act of 1995 and are subject to risks and uncertainties such asthose described in Merit's Annual Report on Form 10-K for the year endedDecember 31, 2007. Such risks and uncertainties include product recalls andproduct liability claims; infringement of Merit's technology or the assertionthat Merit's technology infringes the rights of other parties; termination ofrelationship with suppliers, or failure of suppliers to perform; inability tosuccessfully manage growth through acquisitions; delays in obtainingregulatory approvals, or the failure to maintain such approvals; concentrationof Merit's revenues among a few products and procedures; development of newproducts and technology that could render Merit's products obsolete, marketacceptance of new products, introduction of products in a timely fashion,price and product competition, availability of labor and materials, costincreases, and fluctuations in and obsolescence of inventory; volatility ofthe market price of Merit's common stock; foreign currency fluctuations; keypersonnel; work stoppage or transportation risks; modification or limitationof governmental or private insurance reimbursement, changes in health caremarkets related to health care reform initiatives; and other factors referredto in Merit's Annual Report on Form 10-K and other reports filed with theSecurities and Exchange Commission. All subsequent forward-looking statementsattributable to Merit or persons acting on its behalf are expressly qualifiedin their entirety by these cautionary statements. Actual results may differmaterially from anticipated results. Financial estimates are subject tochange and are not intended to be relied upon as predictions of futureoperating results, and Merit assumes no obligation to update or discloserevisions to those estimates.
SOURCE Merit Medical Systems, Inc.