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MacroPore Biosurgery Increases 2003 Guidance
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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MacroPore Biosurgery Increases 2003 Guidance Based on Preliminary
Third Quarter Revenues of $4.5 million
– Reports Highlights from Annual Shareholder Meeting –
San Diego – October 24, 2003. MacroPore Biosurgery (Frankfurt: XMP) today
announced revenues for the quarter ended September 30, 2003 were $4.5 million.
This compares to $3.3 million for the same period last year, an increase of 36%,
representing the best quarter in the history of the Company. Based on these
results and the early fourth quarter outlook, the Company has revised up its
revenue guidance from $12-$14 million to $14-$14.5 million for the year.
end of ad-hoc-announcement (c)DGAP 24.10.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
“Our revenue growth, driven by orthopedic and spinal implant product sales,
keeps us on pace to achieve record year-end revenues, with approximately 60%
revenue growth for the second straight year,” said Christopher J. Calhoun,
President and Chief Executive Officer of MacroPore Biosurgery. “With the receipt
of the expected $2 million and $5 million milestone payments related to the
sale of CMF/N, MacroPore’s cash position will remain stable between 2002 through
2004 based on current internal business projections. More importantly, as a
result of these payments, we expect to achieve non-operational profitability in
2003, marking our first profitable year.”
In other news, MacroPore Biosurgery announced today during its annual meeting
that the shareholders re-elected all members of the board of directors and
ratified the selection of KPMG, LLP as the Company’s auditors for 2003.
Additionally, it is the Company’s plan to continue the share repurchase program.
This repurchase program is subject to various conditions, which include that
no more than 3,000,000 shares may be purchased under the program (taking into
account all prior repurchases). The current repurchase authorization expires
August 10, 2004.
MacroPore Biosurgery will release its third quarter preliminary results on
November 3, 2003 and host a conference call that same day at 4:30 pm CET or 7:30
am PDT (California time), to discuss the results. This conference call may be
accessed from the investor relations section of the Company’s website,
www.macropore.com. The third quarter final report will be filed on November 14,
2003.
MacroPore Biosurgery, Inc. is a leader in the design, development, and
production of bioresorbable polymer implants for use in a variety of surgical
applications and is pioneering advancement of medicine for surgical therapies
using regenerative cells derived from adipose (fat tissue). Some products
designed for use in spine, neurosurgical, and musculoskeletal surgeries are
distributed by Medtronic, while other products designed for soft tissue are
distributed through our direct US sales force and an international distribution
network. MacroPore Biosurgery is traded on the Frankfurt Stock Exchange in
Germany under the symbol ‘XMP’. For further information please visit our web
site www.macropore.com.
Disclaimer This press release may include forward-looking statements regarding
events and trends which may affect MacroPore Biosurgery’s future operating
results and financial position. Such statements are subject to risks and
uncertainties that could cause MacroPore Biosurgery’s actual results and
financial position to differ materially. These risks and uncertainties are
described (under the heading “Risk Factors”) in our 2002 Annual Report which is
available on our web site. MacroPore Biosurgery assumes no responsibility to
publicly release the results of any revision of forward-looking statements to
reflect events, trends or circumstances after the date they are made.
Contact:
Tom Baker
Euro RSCG Life NRP
Corporate Communications
Tel. +1-858-587-5673
tom.baker@eurorscg.com
Stefanie Bacher
MacroPore Biosurgery
Investor Relations
Tel. +1-858-362-0365
sbacher@macropore.com
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WKN: 940682; ISIN: USU553961025; Index: NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart
240759 Okt 03
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