Conceptus Preannounces Second Quarter Results -- Net Sales Up 82%; Cash Burn Reduced.SAN CARLOS, Calif. -- Conceptus conceptus /con·cep·tus/ (-tus) the product of the union of oocyte and spermatozoon at any stage of development from fertilization until birth, including extraembryonic membranes as well as the embryo or fetus. , Inc. (Nasdaq:CPTS CPTS Certified Penetration Testing Specialist (network security) CPTS Comptroller Squadron CPTS Computer Program Test Specifications CPTS Catastrophe Personnel Tracking System CPTS Claims Procedure Training Specialist ), developer of the Essure(R) non-incisional permanent birth control procedure, today reported preliminary financial results for the three months ended June 30, 2005. Conceptus expects to report net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the second quarter of 2005 of $5.0 million, an 82% increase over net sales of $2.8 million for the second quarter of 2004 and a 30% increase over first quarter 2005 net sales of $3.9 million. These results exceeded the Company's second quarter net sales guidance of $4.1 million to $4.3 million. The Company expects to report cash usage of $4.6 million for the three months ended June 30, 2005 and expects to end the quarter with a total of $19.7 million in cash, cash equivalents and restricted cash. Net loss for the second quarter of 2005 is currently expected to be between $6.2 million and $6.5 million, compared with the net loss of $6.2 million for the second quarter of 2004 and the net loss for the first quarter of 2005 of $6.4 million. These expected results are favorable to the second quarter guidance of $6.5 million to $6.7 million. "We are very pleased by the development, growth and strength of our business this year," said Mark Sieczkarek, president and chief executive officer of Conceptus. "We have significantly increased the number of sales territories since the beginning of the year, which has allowed us to focus on increasing physician utilization. The Essure procedure continues to perform extremely well and we are very excited about the change it is bringing about in women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. care." The Company expects to release full results for the second quarter of 2005 and hold an investor conference call on July 27, 2005. Details about the conference call will be forthcoming. About the Essure Procedure The Essure procedure deploys a soft micro-insert into the fallopian tube fallopian tube (fəlō`pēən), either of a pair of tubes extending from the uterus to the paired ovaries in the human female, also called oviducts, technically known as the uterine tube. through the cervix using a minimally invasive transcervical tubal Tubal (t  `bəl), in the Bible, son of Japheth. access catheter. Once in place, the device is designed to elicit tissue growth in and around the micro-insert to form an occlusion or blockage in the fallopian tube. An Essure procedure does not require cutting or penetrating the abdomen and can be performed in a less costly procedure setting without general anesthesia Anesthesia, General DefinitionGeneral anesthesia is the induction of a state of unconsciousness with the absence of pain sensation over the entire body, through the administration of anesthetic drugs. . A woman is able to return home about 45 minutes after the procedure is completed. There is a three-month waiting period after the procedure during which women must use another form of birth control. The Essure procedure is 99.80% effective after three years of follow-up. About Conceptus Conceptus, Inc. manufactures and markets the Essure Permanent Birth Control system, an innovative medical device and procedure, designed to provide a non-incisional alternative to tubal ligation ligation /li·ga·tion/ (li-ga´shun) the application of a ligature. tubal ligation sterilization of the female by constricting, severing, or crushing the uterine tubes. , which is the leading form of birth control worldwide. The availability of the Essure procedure in the U.S. is expected to open up a market currently occupied by incisional tubal ligation and vasectomy vasectomy, male sterilization by surgical excision of the vas deferens, the thin duct that carries sperm cells from the testicles to the prostate and the penis. , which combined account for over 1 million procedures annually. Additional information about the Essure procedure is available at www.Essure.com or by calling the Essure Information Center at 1-877-ESSURE1. Additional information about Conceptus is available at www.conceptus.com or by calling 1-877-ESSURE2. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Discussions regarding second quarter 2005 results, increasing utilization, among other matters discussed in this release, may differ significantly from the discussion of such matters in the forward-looking statements. Such differences may be based upon factors such as strategic planning decisions by management, re-allocation of internal resources, decisions by insurance companies, scientific advances by third parties, and introduction of competitive products, as well as those factors set forth in the Company's most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and most recent Quarterly Report on Form 10-Q Form 10-Q See 10-Q. , and other filings with the Securities and Exchange Commission. |
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