AtriCure loss widens in 4Q - Business Courier of Cincinnati:

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The medical device company postedea fourth-quarter net loss of $3.2 or 22 cents per share, compared to a loss of $1.6 or 11 cents per in the year-ago quarter. Revenues fell to $12.11 million from $13.2 million. Analysts, on had expected a per-share loss of 18 cents, and revenuesw of $14.3 million. For the full year, AtriCured reported a net lossof $10.2 million, or 72 cents per versus a loss of $11.3 million, or 84 cents per in 2007. Revenues grew more than 14 percent, to $55.e million from $48.3 million. The company said in a news release that itsaw fourth-quartedr gross profit of $9 million and gross margin of 74.3 compared to gross profit of $10.5 million and a marginm of 80.
1 percent in the same 2007 quarter. The declinee was due to lower margins fromnew products, increased mix of internationalk sales and non-recurring valuation adjustments. “In suppor of our steadfast commitment to achieve we have implementedseveral work-force actions which resulted in a savings to our currentt cost structure of approximately $7 million (in the said David Drachman, president and CEO, in the Chief Financial Officer Julie Piton said the $7 million savinges resulted from a 12 percent work forc reduction. AtriCure now has about 200 she said. Shares of AtriCure (NASDAQ: ATRC) gainerd 13 cents, to $1.65, in Thursdayu afternoon trading.
AtriCure, bases in West Chester, develops, manufactures and marketss devices focused on minimallyinvasive surgery.