CardioGenesis Laser Therapies for Angina and Heart Disease Patients Q3 02 Results Final Page 4
CARDIOGENESIS REPORTS THIRD QUARTER, NINE-MONTH RESULTS
Page 4-4-4
*Includes the effects of a $684,000 reduction of accrued liabilities established in prior periods for
research and development costs associated with estimated clinical trial obligations
MORE-MORE-MORE
CARDIOGENESIS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2002 2001 2002
2001
Net revenues
$ 3,210
$ 4,221
$ 9,378
$ 11,362
Cost of revenues
695
1,627
2,193
4,745
Gross profit
2,515
2,594
7,185
6,617
Operating expenses:
Research and development
*(261)
337
*382
1,586
Sales, general and administrative
3,357
4,309
9,790
11,203
Restructuring costs
-
442
-
1,132
Total operating expenses
3,096
5,088
10,172
13,921
Loss from operations
(581)
(2,494)
(2,987)
(7,304)
Non-operating income (expense), net
5
13
2,309
(581)
Net loss
$ (576)
$ (2,481)
$ (678)
$ (7,885)
Net loss per share:
Basic and diluted
$ (0.02) $ (0.07)
$ (0.02)
$ (0.24)
Shares used in per share computations:
Basic and diluted
37,525
34,209
36,850
32,866
