LAS VEGAS, May 7, 2009 (GLOBE NEWSWIRE) -- Integrity Media announces the availability of a report related to the medical device industry featuring SenoRx, Inc. (Nasdaq:SENO) and of interest to investors of Stereotaxis Inc. (Nasdaq:STXS), ev3 Inc. (Nasdaq:EVVV), Angiodynamics Inc. (Nasdaq:ANGO), Thoratec Corp. (Nasdaq:THOR) and Conceptus Inc. (Nasdaq:CPTS).
Despite a challenging global economic environment, SenoRx's first quarter results continued to post encouraging growth in both revenues and gross margin. While revenues in total were impacted by global economic issues, primarily biopsy capital equipment revenues, this was offset by strong growth in product gross margin, which was a record 70.3 percent, compared with 62.1 percent in the first quarter a year ago, and 69.1 percent in the fourth quarter of 2008. The increased gross margin reflects improvement in the sales mix due to a growing contribution from higher-margined Contura MLB sales, along with increasing operating leverage on manufacturing overhead, stemming from increased sales volume and inventory unit production. Additionally, SenoRx continued to expand its international sales footprint, with its entry into the China market during the quarter. SenoRx now has distribution partners in more than 30 countries outside the U.S. and Canada.
SenoRx finished the quarter in a solid financial position with cash and cash equivalents of $15.0 million and minimal debt. Importantly, SenoRx's cash burn during the quarter was minimal and the company reiterated that it is optimistic it will be increasingly cash flow positive as it moves through the balance of the year. SenoRx continues to be one of the few companies strategically positioned in the attractive market segment that is at the confluence of women's health and oncology. The company is focused on the growing global market for interventional diagnostic and therapeutic products in breast care, while capitalizing on a consolidating U.S. customer base.
For a recent article regarding SenoRx visit: http://www.IntegrityIR.com/SENOSCS1
For an Integrity Media profile of SenoRx please visit: www.IntegrityIR.com/SENO
Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. Small Cap Sentinel is property of Integrity Media Inc. (IMI). IMI provides no assurance as to the subject company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. The subject companies haven't always approved the statements made in this report. This report is neither a solicitation to buy nor offer to sell securities and is for information purposes only and shouldn't be used as basis for investment decisions. IMI isn't an investment advisor, analyst or licensed broker dealer and this report isn't investment advice. IMI has been paid thirty-thousand dollars by SenoRx for this report and other services to be performed over the remainder of the calendar year. Paid reports constitute a conflict of interest as to IMI's ability to remain objective in communication regarding subject companies. S.Convery CRD #2495267.