ev3 second-quarter net sales up 60% at $50.6 million

By Lisa Kerner

Charlotte, N.C., July 28 - ev3 Inc. said its net sales in the second quarter of 2006 increased 60% to $50.6 million from $31.5 million in the second quarter of 2005.

The company attributed the gain in part to strong net sales growth in all of ev3's reported product lines and geographic markets.

ev3's net loss attributable to common shareholders for the second quarter of 2006 declined 74% to $10.8 million, or $0.19 per common share, from $40.9 million, or $4.60 per common share, in the second quarter of 2005.

The company reported a loss from operations for the second quarter of $13.7 million, compared to a loss from operations of $28.9 million in the prior-year period.

For the six months ended July 2, the company's net sales increased 57% to $92.9 million from $59.2 million in the first six months of 2005.

ev3's net loss attributable to common shareholders for the first six months of 2006 were down 56% to $35.3 million, or $0.63 per common share, compared to $79.7 million, or $13.95 per common share, for the first six months of 2005.

The company had a loss from operations in the six-month period of $38.7 million, compared to $58.2 million for the six-month period in 2005.

Company highlights for the quarter include the U.S. launch of the SpideRX Emoblic Protections Device and the global launch of the Protégé EverFlex self-expanding stent.

Ev3 is an endovascular device company based in Plymouth, Minn.

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