ATS Medical Q3 net loss decreases

Tue. November 03, 2009; Posted: 01:09 PM

Nov 03, 2009 (Datamonitor via COMTEX) -- ATSI | Quote | Chart | News | PowerRating -- ATS Medical, a provider of cardiac surgery products and services, has reported a net loss of $975,000, or $0.01 per share, for the third quarter ended October 3, 2009, compared to $3.75 million, or $0.06 per share, for the third quarter ended September 27, 2008.

Net sales were $18.83 million for the third quarter ended October 3, 2009, compared to $16.04 million for the third quarter ended September 27, 2008.

Net loss for the nine months ended October 3, 2009 was $2.83 million, or $0.04 per share, compared to $10.83 million, or $0.18 per share, for the nine months ended September 27, 2008.

Net sales were $57.01 million for the nine months ended October 3, 2009, compared to $47.8 million, for the nine months ended September 27, 2008.

Michael Dale, president and CEO of ATS Medical, said: "Our third quarter financial performance was strong, once again yielding robust sales growth, margin expansion and profitability improvements, which are particularly gratifying given the challenging global economic environment.

"Importantly, in the third quarter we generated positive cash flow of more than $700,000. The leverage we are experiencing in our business significantly enhances our ability to capitalize on our strategic initiatives and related new product development."

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