|
25.01.2005 02:16:00
|
ArthroCare Expands Fiscal 2005 Financial Guidance and Provides Prelimi
ArthroCare Expands Fiscal 2005 Financial Guidance and Provides Preliminary Fiscal 2006 Guidance Company Releases Preliminary, Unaudited Financial Information for the Fourth Quarter and Fiscal Year 2004
ArthroCare(R) Corp. (Nasdaq:ARTC), a multi-business medical device company that develops minimally invasive surgical products, announced updated financial guidance for fiscal 2005 and preliminary guidance for fiscal 2006. To provide context in which to interpret this guidance, the company also released limited preliminary, unaudited financial information for the fourth quarter and fiscal year ended Dec. 31, 2004.
Preliminary Fourth Quarter and Fiscal 2004 Financial Information
Based upon an unaudited analysis of its results of operations, ArthroCare expects to report fourth quarter product revenues of approximately $40.8 million, a 30 percent increase over the $31.3 million reported in the same quarter of the previous year. The company also expects to report fiscal year 2004 product revenues of approximately $147.8 million, a 29 percent increase over the $114.7 million reported for fiscal 2003. ArthroCare anticipates total revenues for the fourth quarter and fiscal 2004 to be approximately $42.7 million and $154.1 million, respectively.
In addition, ArthroCare ended the fourth quarter with approximately $21.8 million in cash and marketable securities, up $3.4 million from the previous quarter. This cash balance increase was net of ArthroCare's first principle payment on the term loan related to the Opus Medical acquisition. This principle payment was approximately $1.1 million, resulting in a debt balance of approximately $29.0 million at the end of the fourth quarter.
Additional fourth quarter and fiscal 2004 details will be disclosed when the company reports actual financial results after its audit and required regulatory filings are complete.
Financial Guidance
The following statements are based on current expectations on Jan. 24, 2005. These statements are forward-looking, and actual results may differ materially. These statements do not include the potential impact of any new businesses or license agreements the company may enter in future periods.
In addition, the following guidance excludes the impact of non-cash or non-recurring charges related to equity compensation expenses. It does include anticipated depreciation and amortization expenses related to all ArthroCare acquisitions, including Opus Medical.
The following guidance was previously given for fiscal 2005 and remains unchanged:
ArthroCare's expanded guidance information includes:
-- ArthroCare expects total first quarter 2005 revenues to be
$47-48 million. It also expects sequential revenue growth in
all four quarters of 2005 with strong year-over-year
comparisons.
-- The company's fiscal 2005 EPS guidance remains unchanged.
ArthroCare expects EPS to develop in line with recent
historical patterns with strong sequential quarter-to-quarter
growth; however, the company expects this pattern to be
accentuated in 2005 by the ongoing integration of the Opus
Medical acquisition.
-- ArthroCare expects fiscal 2006 product revenues will grow by
at least 20 percent compared to 2005 revenues.
Conference Call Details
ArthroCare held a conference call with the financial community today to discuss the information presented in this news release. A Webcast and telephonic replay of the call will remain available through Feb. 24, 2005. The Webcast can be accessed on ArthroCare's Web site at www.arthrocare.com, and the telephonic replay of the conference call can be accessed by dialing 888-343-7239 and entering pass code number 21230404.
About ArthroCare
ArthroCare Corp. (www.arthrocare.com) is a highly innovative, multi-business medical device company that develops, manufactures and markets minimally invasive surgical products. With these products, ArthroCare targets a multi-billion Dollar market opportunity across several medical specialties, significantly improving existing surgical procedures and enabling new, minimally invasive procedures. Many of ArthroCare's products are based on its patented Coblation technology, which uses low-temperature radiofrequency energy to gently and precisely dissolve rather than burn soft tissue -- minimizing damage to healthy tissue. Used in more than three million surgeries worldwide, Coblation-based devices have been developed and marketed for sports medicine; spine/neurologic; ear, nose and throat (ENT); cosmetic; urologic and gynecologic procedures. ArthroCare also has added a number of products to its portfolio to complement Coblation within key indications. Founded in 1993, ArthroCare is headquartered in Sunnyvale, Calif.
Safe Harbor Statements
Except for historical information, this press release includes forward-looking statements. These statements include, but are not limited to, the company's stated business outlook for fiscal 2004 and 2005, continued strength of the company's fundamental position, the strength of the company's technology, the company's belief that strategic moves will enhance achievement of the company's long term potential, the potential and expected rate of growth of new businesses, continued success of product diversification efforts, and other statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to the uncertainty of success of the company's non-arthroscopic products, competitive risk, uncertainty of the success of strategic business alliances, uncertainty over reimbursement, need for governmental clearances or approvals before selling products, the uncertainty of protecting the company's patent position, and any changes in financial results from completion of year-end audit activities. These and other risks and uncertainties are detailed from time to time in the company's Securities and Exchange Commission filings, including ArthroCare's Form 10-K for the year ended Dec. 31, 2003 and the 10-Q for the quarter ended Sept. 30, 2004. Forward-looking statements are indicated by words or phrases such as "anticipates," "estimates," "projects," "believes," "intends," "expects," and similar words and phrases. Actual results may differ materially from management expectations.
--30--MER/sf*
Business Editors/Health/Medical Writers
SUNNYVALE, Calif.--(BUSINESS WIRE)--Jan. 24, 2005--
ArthroCare(R) Corp. (Nasdaq:ARTC), a multi-business medical device company that develops minimally invasive surgical products, announced updated financial guidance for fiscal 2005 and preliminary guidance for fiscal 2006. To provide context in which to interpret this guidance, the company also released limited preliminary, unaudited financial information for the fourth quarter and fiscal year ended Dec. 31, 2004.
Preliminary Fourth Quarter and Fiscal 2004 Financial Information
Based upon an unaudited analysis of its results of operations, ArthroCare expects to report fourth quarter product revenues of approximately $40.8 million, a 30 percent increase over the $31.3 million reported in the same quarter of the previous year. The company also expects to report fiscal year 2004 product revenues of approximately $147.8 million, a 29 percent increase over the $114.7 million reported for fiscal 2003. ArthroCare anticipates total revenues for the fourth quarter and fiscal 2004 to be approximately $42.7 million and $154.1 million, respectively.
In addition, ArthroCare ended the fourth quarter with approximately $21.8 million in cash and marketable securities, up $3.4 million from the previous quarter. This cash balance increase was net of ArthroCare's first principle payment on the term loan related to the Opus Medical acquisition. This principle payment was approximately $1.1 million, resulting in a debt balance of approximately $29.0 million at the end of the fourth quarter.
Additional fourth quarter and fiscal 2004 details will be disclosed when the company reports actual financial results after its audit and required regulatory filings are complete.
Financial Guidance
The following statements are based on current expectations on Jan. 24, 2005. These statements are forward-looking, and actual results may differ materially. These statements do not include the potential impact of any new businesses or license agreements the company may enter in future periods.
In addition, the following guidance excludes the impact of non-cash or non-recurring charges related to equity compensation expenses. It does include anticipated depreciation and amortization expenses related to all ArthroCare acquisitions, including Opus Medical.
The following guidance was previously given for fiscal 2005 and remains unchanged:
| -- | ArthroCare anticipates fiscal 2005 product revenues will grow by at least 30 percent compared to 2004 revenues. |
| -- | The company expects sales of its existing Sports Medicine products to grow by at least 10 percent over 2004 revenues. It also expects sales of Opus Medical products to grow by at least 50 percent, and the combined revenues of the Sports Medicine business unit to grow by at least 25 percent. |
| -- | Spine revenues are expected to grow by at least 20 percent. |
| -- | ENT revenues are anticipated to grow by at least 30 percent. |
| -- | ArthroCare also expects an operating margin improvement of 3 percentage points compared with 2004, with 1 percentage point coming from improvement in gross margin. |
| -- | The company also currently expects its effective tax rate for 2005 to remain the same at approximately 27 percent. |
| -- | ArthroCare expects earnings per share (EPS) to grow more rapidly than revenues with an assumed share count of 26.5 million following the close of the Opus Medical acquisition. |
ArthroCare's expanded guidance information includes:
-- ArthroCare expects total first quarter 2005 revenues to be
$47-48 million. It also expects sequential revenue growth in
all four quarters of 2005 with strong year-over-year
comparisons.
-- The company's fiscal 2005 EPS guidance remains unchanged.
ArthroCare expects EPS to develop in line with recent
historical patterns with strong sequential quarter-to-quarter
growth; however, the company expects this pattern to be
accentuated in 2005 by the ongoing integration of the Opus
Medical acquisition.
-- ArthroCare expects fiscal 2006 product revenues will grow by
at least 20 percent compared to 2005 revenues.
Conference Call Details
ArthroCare held a conference call with the financial community today to discuss the information presented in this news release. A Webcast and telephonic replay of the call will remain available through Feb. 24, 2005. The Webcast can be accessed on ArthroCare's Web site at www.arthrocare.com, and the telephonic replay of the conference call can be accessed by dialing 888-343-7239 and entering pass code number 21230404.
About ArthroCare
ArthroCare Corp. (www.arthrocare.com) is a highly innovative, multi-business medical device company that develops, manufactures and markets minimally invasive surgical products. With these products, ArthroCare targets a multi-billion Dollar market opportunity across several medical specialties, significantly improving existing surgical procedures and enabling new, minimally invasive procedures. Many of ArthroCare's products are based on its patented Coblation technology, which uses low-temperature radiofrequency energy to gently and precisely dissolve rather than burn soft tissue -- minimizing damage to healthy tissue. Used in more than three million surgeries worldwide, Coblation-based devices have been developed and marketed for sports medicine; spine/neurologic; ear, nose and throat (ENT); cosmetic; urologic and gynecologic procedures. ArthroCare also has added a number of products to its portfolio to complement Coblation within key indications. Founded in 1993, ArthroCare is headquartered in Sunnyvale, Calif.
Safe Harbor Statements
Except for historical information, this press release includes forward-looking statements. These statements include, but are not limited to, the company's stated business outlook for fiscal 2004 and 2005, continued strength of the company's fundamental position, the strength of the company's technology, the company's belief that strategic moves will enhance achievement of the company's long term potential, the potential and expected rate of growth of new businesses, continued success of product diversification efforts, and other statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to the uncertainty of success of the company's non-arthroscopic products, competitive risk, uncertainty of the success of strategic business alliances, uncertainty over reimbursement, need for governmental clearances or approvals before selling products, the uncertainty of protecting the company's patent position, and any changes in financial results from completion of year-end audit activities. These and other risks and uncertainties are detailed from time to time in the company's Securities and Exchange Commission filings, including ArthroCare's Form 10-K for the year ended Dec. 31, 2003 and the 10-Q for the quarter ended Sept. 30, 2004. Forward-looking statements are indicated by words or phrases such as "anticipates," "estimates," "projects," "believes," "intends," "expects," and similar words and phrases. Actual results may differ materially from management expectations.
--30--MER/sf*
CONTACT: ArthroCare Corporation Fernando Sanchez, 512-391-3967 (Investors) or Haberman & Associates Jon Zurbey, 612-372-6446 (Media) jon@habermaninc.com
KEYWORD: CALIFORNIA INDUSTRY KEYWORD: BANKING MEDICAL DEVICES BIOTECHNOLOGY EARNINGS CONFERENCE CALLS SOURCE: ArthroCare Corporation
Copyright Business Wire 2005
Der finanzen.at Ratgeber für Aktien!
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
JETZT DEVISEN-CFDS MIT BIS ZU HEBEL 30 HANDELN
Handeln Sie Devisen-CFDs mit kleinen Spreads. Mit nur 100 € können Sie mit der Wirkung von 3.000 Euro Kapital handeln.
82% der Kleinanlegerkonten verlieren Geld beim CFD-Handel mit diesem Anbieter. Sie sollten überlegen, ob Sie es sich leisten können, das hohe Risiko einzugehen, Ihr Geld zu verlieren.
Nachrichten zu ArthroCare Corp.mehr Nachrichten
| Keine Nachrichten verfügbar. |
Analysen zu ArthroCare Corp.mehr Analysen
ETF-Sparplan
Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.