ATS Medical reports narrower 1Q loss, beating analyst views

MINNEAPOLIS—Heart surgery product manufacturer ATS Medical Inc. on Monday reported a narrower first-quarter loss on a leap in revenues from the company's heart valve products, beating analyst estimates.

The company recorded a loss of $2.4 million, or 4 cents per share, compared with a loss of $4.8 million, or 11 cents per share in the prior-year period.

Revenue rose 37.5 percent to $14.8 million from $10.8 million in the first quarter of 2007.

Analysts polled by Thomson Financial expected a loss of 7 cents per share on revenue of $14.6 million.

ATS said the increase in revenue was primarily due to an 18.8 percent jump in sales of its heart valve products to $10.7 million. The company also reported a 160 percent increase in sales of its CryoMaze product line for the treatment of cardiac arrhythmias to $3.8 million.

ATS Medical

Shares of ATS rose 17 cents, or 8.8 percent, to $2.10 in after-hours trading. The stock, which has ranged from $1.36 to $2.25 over the past year, earlier rose 3 cents to close at $1.93.

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