BioSphere Medical Reports 2008 Second Quarter Financial Results
[2008-7-28]
Tag : Gynecology Equipment
BioSphere Medical, Inc. (NASDAQ: BSMD) ("BioSphere") - a medicaldevice company that has pioneered the use of bioengineeredmicrospheres to treat uterine fibroids, hypervascularized tumorsand vascular malformations by a minimally invasive, image-guidedmedical procedure called embolotherapy - today reported recordtotal revenue for the second quarter of 2008 of $7.61 million, anincrease of 9% compared with $6.97 million in the second quarter of2007. Worldwide revenue of embolics and delivery systems was $7.41million, up 16% from $6.39 million in the prior year. As previouslyannounced, the gastric product line in Europe is being phased out.Gastric products revenue in Europe was $0.20 million, a decrease of66% from $0.58 million in Q2 2007.
In the second quarter of 2008, revenue in the U.S. was $5.56million, an increase of 11% compared with $5.01 million in thesecond quarter of 2007. Revenue in Europe, Mid-East and Africa(EMEA) for embolics and delivery systems was $1.25 million for thesecond quarter of 2008, up 17% from $1.07 million for the sameperiod in 2007. In markets outside of the United States and EMEA,rest of world (ROW) revenue was $0.60 million for the secondquarter of 2008, up 95% from $0.31 million for the same period in2007, due primarily to shipments to China and Brazil.
Gross margin rose to $5.62 million, or 73.9% of revenue, for thesecond quarter of 2008, compared with gross margin of $5.05million, or 72.4% of revenue, for the second quarter of 2007.
Operating expense for the second quarter of 2008 was $6.89 million,compared with $5.55 million for the second quarter of 2007. Thereasons for the increase are the addition of senior-levelexecutives in research and development, the expansion of the U.S.sales force and increased marketing spending for UFE programs.
Operating loss for the second quarter of 2008 was $1.26 million,compared with $0.50 million for the second quarter of 2007.
BioSphere Medical, Inc. (NASDAQ: BSMD) ("BioSphere") - a medicaldevice company that has pioneered the use of bioengineeredmicrospheres to treat uterine fibroids, hypervascularized tumorsand vascular malformations by a minimally invasive, image-guidedmedical procedure called embolotherapy - today reported recordtotal revenue for the second quarter of 2008 of $7.61 million, anincrease of 9% compared with $6.97 million in the second quarter of2007. Worldwide revenue of embolics and delivery systems was $7.41million, up 16% from $6.39 million in the prior year. As previouslyannounced, the gastric product line in Europe is being phased out.Gastric products revenue in Europe was $0.20 million, a decrease of66% from $0.58 million in Q2 2007.
In the second quarter of 2008, revenue in the U.S. was $5.56million, an increase of 11% compared with $5.01 million in thesecond quarter of 2007. Revenue in Europe, Mid-East and Africa(EMEA) for embolics and delivery systems was $1.25 million for thesecond quarter of 2008, up 17% from $1.07 million for the sameperiod in 2007. In markets outside of the United States and EMEA,rest of world (ROW) revenue was $0.60 million for the secondquarter of 2008, up 95% from $0.31 million for the same period in2007, due primarily to shipments to China and Brazil.
Gross margin rose to $5.62 million, or 73.9% of revenue, for thesecond quarter of 2008, compared with gross margin of $5.05million, or 72.4% of revenue, for the second quarter of 2007.
Operating expense for the second quarter of 2008 was $6.89 million,compared with $5.55 million for the second quarter of 2007. Thereasons for the increase are the addition of senior-levelexecutives in research and development, the expansion of the U.S.sales force and increased marketing spending for UFE programs.
Operating loss for the second quarter of 2008 was $1.26 million,compared with $0.50 million for the second quarter of 2007.
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