TranS1 Inc. Reports Operating Results For The Second Quarter Of 2012, Issues Third Quarter 2012 Guidance

- Second Quarter Revenues Were $3.5 Million -

- Net Loss per Share Was $0.23 for the Quarter -

WILMINGTON, N.C., Aug. 9, 2012 (GLOBE NEWSWIRE) -- TranS1 Inc. (Nasdaq:TSON), a medical device company focused on designing, developing and marketing products to treat degenerative conditions of the spine affecting the lower lumbar region, today announced its financial results for the second quarter ended June 30, 2012.
Comparison of Selected Financial Results (in millions, except per share data)
  Three Months Ended June 30,
  2012   2011
       
 Total revenue $ 3.5   $ 5.3
 Net loss (6.3)   (4.3)
 Net loss per common share (0.23)   (0.21)

Revenues were $3.5 million in the second quarter of 2012, representing a 35% decrease from revenues of $5.3 million in the second quarter of 2011. Domestic revenues were $3.2 million in the second quarter of 2012, compared to $4.9 million in the second quarter of 2011. Gross margin was 73.6% in the second quarter of 2012 as compared to 78.0% in the second quarter of 2011.

Net loss was $6.3 million in the second quarter of 2012, compared to a net loss of $4.3 million in the second quarter of 2011.   Net loss per common share was $0.23 in the second quarter of 2012 compared to a net loss per share of $0.21 in the second quarter of 2011.

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