ALISO VIEJO, Calif., Dec. 20, 2007 (PRIME NEWSWIRE) -- SenoRx, Inc. (Nasdaq:SENO) today provided its initial estimate for revenues in 2008, which it expects will be in a range of $46 million to $50 million. SenoRx had previously indicated that it would be finalizing its annual strategic plan in December and would provide its estimate for 2008 revenues at that time.
"We are encouraged by the continuing progress we have achieved during 2007 and feel positive about the fundamentals of our business, including the increasing pace of placements for our EnCor(r) breast biopsy system," said Lloyd Malchow, SenoRx President and Chief Executive Officer. "We believe that key elements of our growth will be our Contura(tm) MLB radiation balloon, which we expect to transition from preference testing, currently expanded to 34 clinical sites, to full commercial launch in January 2008, as well as continued favorable reimbursement patterns.
"In addition, to further assist investors in developing achievable earnings models for our financial performance in 2008, we are providing an initial estimate for deferred compensation and equity-based compensation expense, which we currently expect will range between $2.8 million and $3.2 million for the coming year," continued Malchow. "These ranges could be materially impacted based upon fluctuation in the market price of the company's common stock. We will continue to provide separate disclosure on a quarterly basis related to this item of expense. Deferred compensation and equity-based compensation charges in our recently reported third quarter were $655,000."
About SenoRx
SenoRx (Nasdaq:SENO) develops, manufactures and sells minimally invasive medical devices used by breast care specialists for the diagnosis and treatment of breast cancer, including its flagship EnCor(r) system and Contura(tm) MLB. SenoRx's field sales organization serves over 1,000 breast diagnostic and treatment centers in the United States and Canada. With 18 products having received FDA 510(k) clearance across the continuum of breast care, SenoRx is developing additional minimally invasive products for diagnosis and treatment of breast cancer. For more information, visit the company's website at www.senorx.com.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning the expectations of future revenue growth, the timing of our Contura commercial launch, the company's ability to maintain its product pricing, the company's financial guidance, and the factors that would impact that guidance, are forward-looking statements within the meaning of the Safe Harbor. Forward-looking statements are based on management's current, preliminary expectations and are subject to risks and uncertainties, which may cause SenoRx's actual results to differ materially from the statements contained herein. Information on potential risk factors that could affect SenoRx's business and its financial results are detailed in its most recent quarterly report on Form 10-Q, as filed with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements, especially guidance on future financial performance, which speaks only as of the date they are made. SenoRx undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.