Merit Medical Systems, Inc. Q2 2010 Earnings Call Transcript
If we go to the SG&A expense, I think that’s another one because I know there is a lot of concern about that, for the second quarter it was 26.6% and most of that again was because of the cost of the pretax expenses of $1.1 million that were in BioSphere but we are also on the quarter, our SG&A expenses as compared to the previous quarter, I want to go to June, for June we are down for the June month to 23.4%. So the other point that I want to make here is that if we take a look gross margins and if we can continue the sales trends, you will see that we are going to get operating leverage all the way down the line and we think those opportunities are in place assuming that we have the reasonable or at least the market conditions that we have seen going forward.
A couple of other things that I think are important for you to know is that we have received the CE mark on our ASAP thrombus removal catheter and the product has been trialed and it’s being trialed as we speak. I had a phone call today on a very successful use of the product in Germany and the comment that I heard from our product manager, who was there as the physician stating that they thought this product was better than the current market leader.
So we are excited about the prospects, we are still in 510k process and we expect that we will introduce this product in the United States sometime in the first quarter but we expect that we would roll this product out in Europe in the next 30 days or so, and start to generate revenues from this product. It’s a tremendous product with a terrific market opportunity.
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