This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Conceptus(R) Reports First Quarter Financial Results

Stocks in this article: CPTS

  • Worldwide sales of $34.1 million reflects growth of 17.5%
  • U.S. Essure ® sales grow 22.2%
  • Adjusted EBITDA reaches $7.7 million

MOUNTAIN VIEW, Calif., April 29, 2013 (GLOBE NEWSWIRE) -- Conceptus, Inc. (Nasdaq:CPTS) , developer of the Essure ® procedure, the leading non-surgical permanent birth control method, today reported financial results for the three month period ended March 31, 2013.

First Quarter Highlights

  • Total revenues reached $34.1 million for the first quarter of 2013, representing 17.5% growth over the prior year period. U.S. sales were $26.5 million, representing 21.7% growth over the prior year period. International sales were $7.6 million, representing 5.0% growth over the prior year period.
  • Gross margin for the first was 83.4% versus 82.2% in the first quarter of 2012.
  • Operating expenses were $24.4 million for the first quarter of 2013, compared with $27.7 million for the first quarter of 2012.
  • Net income of $1.9 million, or $0.05 per fully diluted share for the first quarter of 2013, compared to a net loss of $2.8 million, or ($0.09) per share, for the first quarter of 2012. Adjusted earnings before interest, taxes, depreciation, amortization and stock-based compensation ("adjusted EBITDA") for the first quarter of 2013 were $7.7 million, compared with breakeven in the first quarter of 2012.
  • Cash, cash equivalents and investments were $87.0 million as of March 31, 2013, an increase of $3.9 million from December 31, 2012.
  • Conceptus expanded US physician penetration by entering 341 physicians into preceptorship, certifying 83 physicians and transitioning 47 physicians to performing Essure procedures in the office setting. To date, approximately 16,300 U.S. physicians have performed an Essure procedure.

"We are very pleased by our domestic and international financial performance in the first quarter. Domestic Essure sales growth continued to improve with 22.2% growth, of which organic growth was 17.6%, and growth attributable to sales in our former competitor's accounts was 4.6%," said D. Keith Grossman, President and Chief Executive Officer of Conceptus. "We continue to be encouraged by the ongoing progress we are making in commercial execution and toward improving the profitability of the company."

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,090.18 +59.97 0.33%
S&P 500 2,091.86 +9.98 0.48%
NASDAQ 4,812.4210 +38.9490 0.82%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs