Rob,
Decent results for the current price:
>>PLC Systems' Revenues Increase 34 Percent in First Quarter
Company Launches Strategic Partnership with Edwards Lifesciences and Successfully Introduces Next-Generation TMR Heart Laser
FRANKLIN, Mass., Apr 25, 2001 /PRNewswire via COMTEX/ -- PLC Systems Inc. (Amex: PLC chart, msgs), the leader in carbon dioxide (CO2) transmyocardial revascularization (TMR), today announced financial results for the first quarter ended March 31, 2001.
First quarter total revenues increased 34 percent to $2,341,000 compared with $1,742,000 in the first quarter of 2000. The net loss for the first quarter of 2001 decreased by 46 percent to $1,176,000, or $.04 per share, compared with a first quarter of 2000 net loss of $2,183,000, or $.10 per share.
During the first quarter of 2001, PLC achieved two significant milestones. First, PLC formed and successfully launched the strategic partnership with Edwards Lifesciences to market and distribute PLC's next-generation CO2 Heart Laser 2(TM). The second milestone of the quarter was accomplished when PLC received FDA and CE Mark approval to market its next-generation CO2 Heart Laser 2, which has greater mobility due to its significantly smaller size.
"I am very pleased with our achievements this quarter," stated Mark R. Tauscher. "In successfully executing our strategic plan, we achieved increased revenues, improved gross margins and reduced operating expenses, which enabled PLC to post a substantially decreased net loss."
PLC ended the first quarter of 2001 with 160 heart centers worldwide utilizing PLC's CO2 TMR heart lasers, which includes 85 lasers in the U.S. and 75 lasers in international sites.
Tauscher continued, "Throughout the quarter, our efforts were focused on building, educating and training team members of the newly created PLC and Edwards -- Angina Relief Alliance. This partnership greatly increases the number of people promoting the CO2 TMR therapy. The partnership combined with the smaller sized next-generation TMR laser enables the CO2 TMR therapy to be brought to a larger audience."
"The first three months of 2001 have been extremely important to PLC's strategic development. The partnership has already produced positive results. I believe that the PLC team has positioned the Company for a bright future. As the partnership continues to ramp up, I expect that PLC's performance will benefit from the groundwork that was established in the first quarter," concluded Tauscher.
PLC Systems will be hosting a conference call today, April 25 at 11:00 a.m. Eastern Time. This call will be broadcast live via the Internet, and a recording will be available for the next month on the home page of the Company's web site -- www.plcmed.com.<<
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Cheers, Tuck |
