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 Reports 12% Global Revenue Growth For The First Quarter 2014

Europe Revenue Growth Exceeds 90%

Reiterates 2014 Financial Guidance

IRVINE, Calif., April 30, 2014 (GLOBE NEWSWIRE) -- Endologix, Inc. (Nasdaq:ELGX), developer and marketer of innovative treatments for aortic disorders, today announced financial results for the three months ended March 31, 2014.

John McDermott, Endologix Chairman and Chief Executive Officer, said, "We achieved strong growth in Europe during the first quarter, which allowed us to continue gaining global market share. In the U.S., we have experienced increasing procedure volume since January, driven by the launch of the VELA™ Proximal Endograft System and our PEVAR physician training programs. During the first quarter, we also made progress in our IDE and global registry for the Nellix® EndoVascular Aneurysm Sealing System and remain on track to complete enrollment in both clinical studies by the end of the year."

Financial Results

Global revenue in the first quarter of 2014 was $33.3 million, a 12% increase from $29.8 million in the first quarter of 2013. U.S. revenue in the first quarter of 2014 was $24.0 million, a 3% decrease compared with $24.7 million in the first quarter of 2013. The decrease in the U.S. was due to a slow start to the year, but current procedure trends are encouraging. International revenue was $9.3 million, an 82% increase compared to $5.1 million in the first quarter of 2013. The international sales increase was primarily attributable to strong direct sales growth in Europe with both Nellix and AFX.

Gross profit was $24.3 million in the first quarter of 2014, which represents a gross margin of 73%. This compares with gross margin of 76% in the first quarter of 2013. The decrease in gross margin was primarily driven by geography and product mix, with a greater proportion of sales from international markets, with lower gross margins.

1 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

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs