In The News

Record revenues reported for local medical device manufacturer

May 8, 2012  |  AtriCure West Chester Ohio

Staff Report 11:24 AM Thursday, May 3, 2012

WEST CHESTER TWP. — AtriCure Inc., a maker of medical devices used in heart surgery, reported that it saw record revenues for the first quarter of 2012, a new high of $17.5 million, reflecting 11.8 percent growth compared to the first quarter of 2011.

Revenue from U.S. product sales was a record $13.2 million, reflecting growth of 8.8 percent, including $1.8 million in sales of the AtriClip system.

International revenue was a record $4.3 million, an increase of $0.8 million or 21.9 percent when compared to $3.5 million for the first quarter of 2011. International revenue growth was driven primarily by our direct markets in Europe and an increase in sales in Asia.

David J. Drachman, AtriCure’s president and CEO, said company officials are pleased with Atricure’s performance in the first quarter and anticipate growth accelerating during the second

“We are increasingly confident that U.S. procedure volumes are stabilizing which we anticipate will continue through the remainder of 2012,” Drachman said. “We anticipate growth accelerating during the second half of 2012.

“We believe AtriCure is positioned to capitalize on our wide range of premium products, recent AF approval, education and marketing activities, momentum in international markets, and continued investment in regulatory approvals and clinical science.”

The company also reported a wider net loss, from $1.3 million in 2011 to $1.6 million in 2012.