Endosonics grows global IVUS business
Intravascular ultrasound developer Endosonics saw revenues jumpsharply for its second quarter (end-June), thanks to increasingdemand in U.S. and global markets. The Pleasanton, CA, company'srevenues for the quarter leaped 234% to $4 million, compared
Intravascular ultrasound developer Endosonics saw revenues jumpsharply for its second quarter (end-June), thanks to increasingdemand in U.S. and global markets. The Pleasanton, CA, company'srevenues for the quarter leaped 234% to $4 million, compared to$1.2 million in sales in the same period a year ago.
Despite the revenue growth, Endosonics continues to post losses.The company had a net loss for the quarter of $3.3 million, includinga non-cash expense of $500,000 to complete its 1993 acquisitionof its CardioVascular Dynamics subsidiary. Endosonics had a netloss of $3.2 million in the second quarter of 1994.
Endosonics said its revenue increase was due to overall growthin the market for intracoronary ultrasound products and increasedsales from its marketing and distribution relationship with Cordis(SCAN 9/14/94). CVD has also seen increased sales of its specializedcatheters.
Endosonics also reported last week that CVD received a $750,000payment from its Japanese distributor, Fukuda Denshi, in returnfor Japanese distribution rights to several new CVD products forperipheral vascular, neurovascular and nonvascular applications.