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TranS1 Inc. Reports Operating Results For The Third Quarter Of 2010, Issues Fourth Quarter Guidance

- Third quarter revenues were $6.3 million -

- 589 TranS1 procedures performed globally in the quarter -

- Net loss per share was $0.18 for the quarter -

- Excluding special items, net loss per share was $0.16 for the quarter* -

WILMINGTON, N.C., Nov. 9, 2010 (GLOBE NEWSWIRE) -- TranS1 Inc. (Nasdaq:TSON), a medical device company focused on designing, developing and marketing products that implement its proprietary approach to treat degenerative conditions of the spine affecting the lower lumbar region, today announced its financial results for the third quarter ended September 30, 2010.

Comparison of Selected Financial Results (in millions, except per share data)
  Three Months Ended Sept. 30,
  2010 2009
As reported:    
Total revenue $6.3 $6.9
Net loss (3.8) (5.6)
Net loss per common share (0.18) (0.27)
Excluding special items*:    
Net loss (3.4) (4.8)
Net loss per common share (0.16) (0.23)
* See "Reconciliation of GAAP Financial Information to Non-GAAP Financial Information" below.

Revenues were $6.3 million in the third quarter of 2010, representing an 8% decrease over revenues of $6.9 million in the third quarter of 2009. Domestic revenues were $5.9 million in the third quarter of 2010, compared to $6.5 million in the third quarter of 2009. Gross margin was 81.0% in the third quarter of 2010 as compared to 80.2% in the third quarter of 2009. 

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