AtriCure, Inc. Provides Revenue Guidance for the Fourth Quarter and Full Year of 2013; Provides Earnings Guidance for the Full Year of 2014
January 10, 2014 at 02:30 am IST
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AtriCure, Inc. provided revenue guidance for the fourth quarter and full year of 2013. Preliminary revenue for the fourth quarter of 2013 is expected to be approximately $21.9 million, reflecting growth of approximately 19% over the fourth quarter of 2012. Based on this preliminary estimate, revenue from U.S. customers is expected to be $16.4 million, reflecting growth of 20%, and revenue from international customers is expected to be $5.5 million, reflecting growth of 17%, or 14% on a constant currency basis.
Preliminary revenue for full year 2013 is expected to be $81.9 million, reflecting year over year growth of 17% over full year 2012.
The company provided earnings guidance for the full year of 2014. Management projects that 2014 revenue will be in the range of $100 million to $103 million, which represents an increase of 22% to 26% over 2013. Organic revenue growth is expected to be approximately 13% - 15% with the remaining portion expected from the recently acquired Estech ablation and valve products. Adjusted EBITDA, a non-GAAP measure, is projected to be a loss in the range of $9 to $10 million for 2014, of which approximately $3.5 million will be transaction related expenses.
AtriCure, Inc. provides technologies for the treatment for atrial fibrillation (Afib), left atrial appendage (LAA) management and post-operative pain management. The Company's cardiac ablation and left atrial appendage management (LAAM) products are used by physicians during open-heart and minimally invasive surgical procedures. Its pain management solutions are used by physicians to freeze nerves during cardiothoracic or thoracic surgical procedures. The Company's products for open and minimally invasive ablation include Isolator Synergy Clamps and Multifunctional Pens and Linear Ablation Devices. Its products for open ablation include cryoICE Cryoablation System. Its products for minimally invasive ablation include EPi-Sense Guided Coagulation System with VisiTrax Technology. Its appendage management products include AtriClip System. The Isolator Synergy Ablation System clamps are single-use disposable radio frequency (RF) products with jaws that close in a parallel fashion.
ATRICURE, INC. 
