This Day On The Street
Continue to site
ADVERTISEMENT
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

Endologix's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, October 27, 2011. Endologix undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this call.

With that said, I would like to turn it over to John McDermott.

John McDermott

Thanks, Zack and welcome everyone to today’s call. We achieved several important milestones during the third quarter as we continued to gain market share. Global revenue was up 25% to a record $22.3 million led by 33% year-over-year and 22% sequential growth in the U.S.

Our strong results were driven by the launch of AFX in the second half of August. Many of our customers and several new Endologix users were eagerly awaiting the opportunity to try our new AFX Endovascular AAA System and the feedback has been positive. In particular, physicians like the low-profile delivery system and our new STRATA graft material. We fully transitioned our U.S. sales customer base to AFX during the quarter and continued to be only company that offers an endovascular graft with the clinical advantages of anatomical fixation. Based upon the strong quarter and year-to-date results, we are increasing our full year revenue guidance to $82 million to $84 million which represents 22% to 25% annual growth.

Turning now to our U.S. sales force, we ended the quarter with a total of 71 reps and clinical specialists. This is our first year adding clinical specialists and the early results are very encouraging, so we plan to keep gradually adding more over time. In addition to supporting reps to get double booked with cases, several of the clinical specialists will provide support for our upcoming Ventana and Nellix clinical trials. We planned to finish 2011 with at least 72 reps and clinical specialists and we expect to increase that to up around 80 by the end of 2012.

2 of 4

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs