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
TheStreet Open House

Endologix Reports 25% Revenue Growth For The Third Quarter 2013

IRVINE, Calif., Oct. 30, 2013 (GLOBE NEWSWIRE) -- Endologix, Inc. (Nasdaq:ELGX), developer and marketer of innovative treatments for aortic disorders, today announced financial results for the three and nine months ended September 30, 2013.

John McDermott, Endologix President and Chief Executive Officer, said, "We had a strong third quarter with top line growth led by the ongoing adoption of the AFX ® Endovascular AAA System and our PEVAR training programs in the U.S. In Europe, we have experienced good continued growth with the AFX Endovascular AAA System and also added more centers to the controlled market release of the Nellix ® EndoVascular Aneurysm Sealing System. This week, we achieved an additional milestone by enrolling the first patient in the EVAS FORWARD - Global Registry. The registry is planned to include at least 300 patients enrolled at up to 30 international centers and provide real world clinical results to further demonstrate the effectiveness and broad applicability of the Nellix technology. We also made progress in evaluating our plans for the Ventana program and remain on track to provide an update by year end."

Financial Results

Global revenue in the third quarter of 2013 was $33.3 million, a 25% increase from $26.7 million in the third quarter of 2012. For the nine months ended September 30, 2013, global revenue increased 26% to $97.0 million, compared to $76.7 million for the nine months ended September 30, 2012.

U.S. revenue in the third quarter of 2013 was $26.5 million, a 24% increase compared with $21.3 million in the third quarter of 2012. The increase was driven by continued adoption of the AFX system and by productivity gains from expansions of the U.S. sales force, including the addition of clinical specialists who provide field support to sales representatives. International revenue was $6.8 million, a 26% increase compared to $5.4 million in the third quarter of 2012. The international sales increase was primarily attributable to strong procedural growth and to the transition to a direct sales organization in Europe, which began in September 2011.

1 of 6

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
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 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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