MINNEAPOLIS—Heart valve maker ATS Medical Inc. on Monday forecast second-quarter revenue between $16.7 million and $16.9 million, above Wall Street expectations.
On average, analysts polled by Thomson Financial expect revenue of $15.7 million for the quarter ended June 28.
The company said its estimate represents about a 35 percent increase over year-ago revenue of $12.4 million.
ATS said its second-quarter revenue was buoyed by sales of its ATS CryoMaze surgical ablation device, which is used in operations where small portions of heart tissue are destroyed to stop abnormal heart rhythms, and strong sales of heart valve products.
The company expects new product launches to drive second-quarter sales of heart valve products up 10 percent year-over-year.
ATS Medical also said that with the recent negotiation of a two-year, $5 million revolving credit line with director Theodore C. Skokos, it doesn't believe it will need to raise additional capital to execute current growth plans.
ATS Medical will release second-quarter results on Aug. 4.
