Conceptus(R) Reports Preliminary Fourth Quarter And Full Year 2010 Net Sales

MOUNTAIN VIEW, Calif., Jan. 6, 2011 (GLOBE NEWSWIRE) -- Conceptus, Inc. (Nasdaq:CPTS), developer of the Essure® procedure, the most effective non-surgical permanent birth control method available, today reported preliminary net sales for the 2010 fourth quarter and full year.

Fourth quarter 2010 net sales are expected to be between $36.3 million and $36.6 million, up approximately 7% to 8% compared with third quarter 2010 net sales of $33.9 million and down approximately 1% to 2% compared with fourth quarter 2009 net sales of $37.0 million. The Company's previous guidance, issued on October 28, 2010, was for fourth quarter 2010 net sales to be between $39.0 million and $41.0 million.

As a result, full year 2010 net sales are expected to be between $140.4 million and $140.7 million, up approximately 7% compared with full year 2009 net sales of $131.4 million. The Company's previous guidance was for full year 2010 net sales to be between $143.0 million and $145.0 million, issued on July 8, 2010 and affirmed on October 28, 2010.

"The fourth quarter was more challenging than expected as lower year-over-year OB/GYN office visits did not produce the typical year-end increase in non-urgent care procedures such as Essure," said Mark Sieczkarek, president and chief executive officer of Conceptus. "However, we are beginning to see positive effects from the increase in our field sales force instituted in July 2010 in terms of physician metrics, with increasing numbers of new physician customers and certifications. In addition, although customer trials of our competitor's product continued to impact our market share, we are seeing a significant number of accounts returning to Essure following the trialing of the competitor's less effective product."

The Company's fourth quarter and full year 2010 net sales stated above is preliminary and does not present all information necessary for an understanding of the Company's 2010 financial position and results of operations. Specifically, the Company has not yet completed its year-end internal audit procedures and is not yet able to report net income for these periods. Moreover, the full year 2010 financial results will be audited by the Company's independent registered public accounting firm. The Company expects to announce fourth quarter and full year 2010 financial results, introduce 2011 financial guidance and hold an investment community conference call in late February.