Advanced Neuromodulation Systems Increases Revenue and Earnings Guidance for 2003 and Provides Initial Guidance for 2004.Business Editors DALLAS--(BUSINESS WIRE)--Jan. 13, 2004 PMA PMA (papillary-marginal-attached), n a system of epidemiologic scoring of periodontal disease devised by Schour and Massler in which the symbols denote the areas involved in gingival inflammation. PMA Progressive muscular atrophy Application for ANS' AccuRx(R) Implantable Drug Pump Submitted to the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. Advanced Neuromodulation Systems Advanced Neuromodulation System is a subsidiary of St. Jude Medical, Inc based in Plano, Texas. Among the products ANS makes and sells include spinal cord stimulators for intractable pain. , Inc. (ANS (ANS Communications, Inc, Purchase, NY) An ISP, Internet backbone and provider of private data network services, founded in 1990 as Advanced Network & Services, Inc., by IBM, MCI and Merit (consortium of Michigan universities). ) (Nasdaq:ANSI (American National Standards Institute, New York, www.ansi.org) A membership organization founded in 1918 that coordinates the development of U.S. voluntary national standards in both the private and public sectors. It is the U.S. member body to ISO and IEC. ) management today increased its revenue and earnings guidance for 2003 and provided initial guidance for 2004. The company also announced that the PMA application for its AccuRx(R) Constant Flow Implantable Pump implantable pump Therapeutics A device installed under the skin to administer a steady dose of drugs containing data from a 110-patient clinical study was submitted to the FDA as planned in December 2003. "We are dedicated to expanding ANS' product offerings to address current and emerging neuromodulation applications. This filing was an important step toward achieving that goal," said President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Chris Chavez. Increases Guidance for 2003 Reflecting continued strong sales of ANS' neuromodulation products for the treatment of chronic pain, management currently expects revenue for the fourth quarter ended December 31, 2003 of approximately $25.7 million, including revenue from the sale of neuro products of approximately $23.5 million, and net income in the range of $0.18 to $0.19 per diluted share. For the year ended December 31, 2003, management expects revenue of approximately $91 million, including revenue from the sale of neuro products of approximately $80 million, and net income in the range of $0.64 to $0.65 per diluted share. Final results are subject to completion of the company's financial audit and any required audit adjustments. For 2002, ANS reported revenue of $57.4 million, including neuro sales of $46.7 million, and net income of $0.37 per diluted share. "ANS' success is a tribute to the hard work and dedication of our employees, our outside sales people and distributors, and the growing ranks of implanting physicians and their patients who put their trust in our neuromodulation products. It is their commitment that has made our growth possible and is the key to continuing to achieve our goals in the years to come," Chavez said. ANS plans to release its financial results for the fourth quarter and fiscal year ended December 31, 2003 on February 19, 2004, and will host a conference call and simultaneous webcast on that date. Additional information regarding the earnings release, conference call and webcast will be announced soon. Initial Guidance for 2004 Chavez added that management currently expects revenue for 2004 in the range of $116 to $121 million, and net income in the range of $0.87 to $0.91 per diluted share. About Advanced Neuromodulation Systems Advanced Neuromodulation Systems designs, develops, manufactures and markets implantable systems used to manage chronic intractable pain intractable pain Refractory pain Pain medicine Persistent pain which does not respond to at least 3 dosease of parenteral analgesics given over a 12-24 hr period; pain that does not respond to appropriate doses of opioid analgesics. and other disorders of the central nervous system. Forbes magazine recently recognized ANS as one of America's 200 Best Small Companies and Fortune magazine recently recognized ANS as one of Fortune's Top 100 Fastest-Growing Small Companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Frost & Sullivan, an international strategic market research firm, also recently presented ANS with its Product Innovation Award, recognizing ANS as the technology innovation leader in the neurostimulation market and ANS' Genesis(R) Implantable Pulse Generator implantable pulse generator Cardiac pacing A pacemaker used for permanent pacing, which is placed inside a pocket under the skin; the leads are positioned in or on the heart system as the most advanced fully implantable spinal cord stimulator Spinal Cord Stimulator (SCS) or Dorsal Column Stimulator (DCS) is an implantable medical device used to treat chronic pain of neurologic origin. An electric impulse generated by the device near the dorsal surface of the spinal cord provides a paresthesia ("tingling") on the market. Additional information is available at www.ans-medical.com. "Safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements contained in this document that are not based on historical facts are "forward-looking statements." Terms such as "plan," "should," "would," "anticipate," "believe," "intend," "estimate," "expect," "predict," "scheduled," "new market," "potential market applications" and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: completion of the company's financial audit and any adjustments required thereby; continued market acceptance of the Genesis(R) IPG IPG Implantable pulse generator, see there and GenesisXP(TM) IPG; competition from Medtronic, Inc. and future competitors; continued market acceptance of our Renew(R) system following the launches of the Genesis IPG and GenesisXP IPG; patient or physician selection of less invasive or less expensive alternatives; adverse changes in coverage or reimbursement amounts by Medicare, Medicaid, private insurers, managed care organizations or workers' comp programs; intellectual property protection and potential infringement issues; obtaining necessary government approvals for new products or applications and maintaining compliance with FDA product and manufacturing requirements; product liability; reliance on single suppliers for certain components; completion of research and development projects in an efficient and timely manner; the satisfactory completion of clinical trials and/or market tests prior to the introduction of new products; successful integration of acquired businesses, products and technologies; international trade risks; and other risks detailed from time to time in the company's SEC filings. Consequently, if such management assumptions prove to be incorrect or such risks or uncertainties materialize, anticipated results could differ materially from those forecast in forward-looking statements. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. |
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