This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Conceptus® Reports First Quarter Sales Of $33.4 Million

Conceptus, Inc. (Nasdaq: CPTS), developer of the Essure ® procedure, the first proven non-surgical permanent birth control method available, today reported financial results for the three months ended March 31, 2010.

Net sales for the first quarter of 2010 were $33.4 million, an increase of 23% over net sales of $27.2 million for the first quarter of 2009. Net sales were within the Company’s guidance of $33.0 million to $34.0 million issued in February of this year.

The Company reported a net loss for the first quarter of 2010 of $2.4 million, or $0.08 per share, compared with a net loss in the same period of 2009 of $4.3 million, or $0.14 per share. These results were better than the Company’s net loss guidance of $0.09 to $0.10 per share. Non-GAAP net income for the first quarter of 2010 was $1.4 million, or $0.04 per diluted share, compared with non-GAAP net loss for the prior year first quarter of $1.7 million, or $0.05 per share.

Compared with the prior year first quarter, domestic sales of the Essure system increased 20% to $25.4 million and international sales increased 33% to $8.0 million. Domestic sales growth reflects continued increases in both the number of physicians entering and completing training, and in the number of certified physicians performing the Essure procedure in-office. The percentage of domestic procedures performed in sites of minimal anesthesia in the first quarter of 2010 was approximately 66%, a slight increase over the fourth quarter of 2009 and a 12 percentage point increase over the prior year first quarter. International sales growth was positively impacted by a weaker U.S. dollar in the current period compared to a year ago. International unit volume growth was 31%.

Gross profit for the first quarter of 2010 was $27.0 million, compared with $21.4 million for the first quarter of 2009. Gross profit margin was 81% of net sales for the first quarter of 2010 compared with 79% for the first quarter of 2009. Sequential gross profit margin decreased slightly from 82% in the fourth quarter of 2009 primarily due to a higher percentage of lower-margin international sales in the first quarter of 2010. Total operating expenses for the first quarter of 2010 were $27.7 million, up from $24.0 million for the first quarter of 2009, reflecting increased spending on research and development and marketing.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $37.40 3.90%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs