ev3 Inc.
Medical Devices & Tech
9600 54th Avenue North
Plymouth, MN 55442-21 USA
phone: +1 763 398 7000
fax: +1 763 398 7200
Symbol EVVV
Exchange Nasdaq
Founded 2005
Employees 880
www.ev3.net
Research Sector Medical Devices & Tech
Summary Description
Edovascular technologies for interventional radiology, cardiology, and neurology therapies.
Management
James M. Corbett-President and Chief Executive Officer Patrick D. Spangler-Chief Financial Officer and Treasurer Stacy Enxing Seng-President, Cardio Peripheral Division Pascal E.R. Girin-President, International Kevin M. Klemz-Vice President, Secretary and Chief Legal Officer Gregory Morrison-Vice President, Human Resources Jeffrey J. Peters-Chief Technology Officer Matthew Jenusaitis-President, Neurovascular Division Michael D. Ritchey-Vice President Corporate Marketing
Ownership
Financials Mkt Cap :1


* numbers in thousands

Recent Results
Net sales increased 52.6% to $42.2 million in the three months ended April 2, 2006, compared to $27.7 million in the three months ended April 3, 2005, primarily as a result of continued improvements in sales force productivity and increased market penetration of products introduced during the past 18 months. ev3's net loss for the 3 months ended April 2 was $24.5 million, down 24% year-to-year. ev3 has lowered its annual net sales guidance range to $196 to $208 million, representing net sales growth targets ranging from 47% to 56% over 2005. The previous net sales range was $200 to $220 million. ev3 expects its net sales in the second quarter to be in the range of $45 to $49 million, representing growth rates of 43% to 55% over the second quarter of 2005.
 
Keywords
radiology, cardiology, neurology

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Description
ev3 designs, manufactures and distributes catheter-based, or endovascular, technologies for the minimally invasive treatment of vascular diseases and disorders.
Products / Services
ev3's broad product portfolio is focused on applications in each of the three sub-markets of the endovascular device market: peripheral vascular, cardiovascular and neurovascular. Products presently include guidewires, snares, thrombectomy systems, embolic protection devices, infusion catheters/wires and a range of peripheral vascular, bronchial and biliary stent systems.
Market / Customers
ev3's cardio peripheral segment contains products used in both cardiovascular and peripheral vascular procedures by cardiologists, radiologists and vascular surgeons. Its neurovascular segment contains products used primarily by neuro-radiologists and neurosurgeons.
Strategy
In January 2006, ev3 acquired all public shares of Micro Therapeutics, Inc., (MTI), making MTI a wholly owned subsidiary.
Funding
ev3 completed an initial public offering in June 2005. Cash, cash equivalents and short-term investments available to fund current operations were $56 million at April 2, 2006.
Status
ev3 introduced two new products in the first quarter 2006 and expects to introduce additional new products during the remainder of 2006.
Additional Information
The company believes the overall market for endovascular devices will grow as the demand for minimally invasive treatment of vascular diseases and disorders continues to increase. ev3 intends to capitalize on this market opportunity through the continued


2008-08-27-1577