TranS1 Inc. Announces Preliminary Unaudited Fourth Quarter 2012 Revenue
14 Enero 2013 - 6:00AM
TranS1 Inc. (Nasdaq:TSON), a medical device company focused on
designing, developing and marketing products to treat degenerative
conditions of the spine affecting the lower lumbar region, today
announced its preliminary unaudited revenue for the fourth quarter
ended December 31, 2012.
TranS1 expects revenues to be approximately $4.1 million in the
fourth quarter of 2012, representing a 3% increase from revenues of
$4.0 million in the fourth quarter of 2011 and a 29% increase from
revenues of $3.2 million in the third quarter of 2012. The fourth
quarter of 2012 includes domestic revenue of approximately $3.0M, a
4% increase over the third quarter of 2012, and international
revenue of approximately $1.1 million, primarily from the initial
stocking order for our new AxiaLIF® distributor in China.
The Company previously issued revenue guidance in the range of
$3.8 - $4.2 million for the fourth quarter ending December 31,
2012.
"The return to revenue growth in the fourth quarter marks an
important milestone in our business as we begin to turn the corner
and gain market share with our minimally invasive technologies for
spinal fusion," said Ken Reali, President and Chief Executive
Officer of TranS1. "2013 will be an important year as we build the
business utilizing the new Category I code for our AxiaLIF
technology."
About TranS1 Inc.
TranS1 is a medical device company focused on designing,
developing and marketing products to treat degenerative conditions
of the spine affecting the lower lumbar region. TranS1 currently
markets the AxiaLIF family of products for single and two level
lumbar fusion, the VEOTM lateral access and interbody fusion system
and the VectreTM posterior fixation system for lumbar fixation
supplemental to AxiaLIF fusion. TranS1 was founded in May 2000 and
is headquartered in Wilmington, North Carolina. For more
information, visit www.trans1.com.
Forward Looking Statements
This press release includes statements that are based on our
current beliefs and assumptions. These statements constitute
"forward looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and are intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Such statements are subject to risks
and uncertainties that are often difficult to predict, are beyond
our control, and which may cause results to differ materially from
expectations. Factors that could cause our results to differ
materially from those described include, but are not limited to,
the pace of adoption of our product technology by spine
surgeons, the outcome of coverage and reimbursement decisions by
the government and third party payors, the success of our
continuing product development efforts, the effect on our business
of existing and new regulatory requirements, uncertainty
surrounding the outcome of the matters relating to the subpoena
issued to the Company by the Department of Health and Human
Services, Office of Inspector General, stockholder class action
lawsuits, and other economic and competitive factors. For a
discussion of the most significant risks and uncertainties
associated with TranS1's business, please review the Company's
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the year ended December 31, 2011 and
subsequent reports. You are cautioned not to place undue reliance
on these forward looking statements, which are based on
TranS1's expectations as of the date of this press release and
speak only as of the date of this press release. We undertake no
obligation to publicly update or revise any forward looking
statement, whether as a result of new information, future events or
otherwise.
CONTACT: Investors:
TranS1 Inc.
Joseph P. Slattery, 910-332-1700
Executive Vice-President and Chief Financial Officer
or
Westwicke Partners
Mark Klausner, 443-213-0501
trans1@westwicke.com
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