Endologix Announces Preliminary Financial Results and Conference Call for Fourth Quarter and Full-Year 2019
February 06 2020 - 08:30AM
Business Wire
Endologix, Inc. (the “Company”) (NASDAQ: ELGX), a developer and
marketer of innovative treatments for aortic disorders, today
announced that its preliminary unaudited revenue for the fourth
quarter ended December 31, 2019 is expected to be approximately
$35.8 million. Revenue for the full year ended December 31, 2019 is
expected to be approximately $143.4 million.
Total cash, cash equivalents, and restricted cash as of December
31, 2019 are expected to be approximately $42.8 million, compared
to a balance of $47.8 million on September 30, 2019.
The Company also announced that it will report financial results
for the fourth quarter and full-year 2019 after the market close on
Wednesday, February 19, 2020. The Company’s management will host a
conference call at 4:30 p.m. ET that same day to discuss the
results.
To participate in the conference call, dial 888-254-3590
(domestic) or +1 323-994-2093 (international) and refer to the
passcode 2044596.
This conference call will also be webcast and can be accessed
from the “Investors” section of the Company’s website at
www.endologix.com. The webcast replay of the call will be available
at the same site approximately one hour after the end of the
call.
A recording of the call will also be available from 7:30 p.m. ET
on Wednesday, February 19, 2020, until 11:59 p.m. ET on Wednesday,
February 26, 2020. To hear this recording, dial 844-512-2921
(domestic) or +1 412-317-6671 (international) and enter the
passcode 2044596.
About Endologix, Inc.
The Company develops and manufactures minimally invasive
treatments for aortic disorders. The Company's focus is in
endovascular stent grafts for the treatment of abdominal aortic
aneurysms (AAA). AAA is a weakening of the wall of the aorta, the
largest artery in the body, resulting in a balloon-like
enlargement. Once an AAA develops, it continues to enlarge and, if
left untreated, becomes increasingly susceptible to rupture. The
overall patient mortality rate for ruptured AAA is approximately
80%, making it a leading cause of death in the U.S. For more
information, visit www.endologix.com.
The Nellix® EndoVascular Aneurysm Sealing System has obtained CE
Mark in the EU and is only approved as an investigational device in
the United States. The Ovation Alto® System is only approved as an
investigational device and is not currently approved in any
market.
Cautions Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can generally be identified
by the use of words such as “anticipate,” “expect,” “could,” “may,”
“will,” “believe,” “estimate,” “forecast,” “goal,” “project,”
“continue,” “outlook,” “guidance,” “future,” other words of similar
meaning and the use of future dates. Forward-looking statements
include all statements other than statements of historical fact
contained in this press release, including statements regarding the
Company’s fourth quarter and FY2019 revenue estimates, and the
Company’s estimated total cash, cash equivalents, and restricted
cash as of December 31, 2019;, the accuracy of which are
necessarily subject to risks and uncertainties that may cause the
Company’s actual results to differ materially and adversely from
the statements contained herein. Some of the potential risks and
uncertainties that could cause actual results to differ materially
and adversely from anticipated results include continued market
acceptance, endorsement and use of the Company’s products, the
Company’s continued compliance with its financial covenants and
other operating restrictions under its lending facilities, the
Company’s ability to access the capital markets on terms acceptable
to it or at all, the Company’s abilities to service its
indebtedness and to satisfy and discharge its indebtedness as such
indebtedness comes due, the success of clinical trials relating to
the Company’s products, product research and development efforts,
reports by third parties in respect of the performance of the
Company’s products, uncertainty in the process of obtaining and
maintaining regulatory approval for the Company’s products, the
Company’s ability to protect its intellectual property rights and
proprietary technologies and to defend itself against third party
intellectual property infringement claims, the Company’s ability to
retain its key executive, sales and other personnel, and other
economic, business, competitive, and regulatory factors.
Forward-looking statements represent our management’s current
expectations and predictions about trends affecting our business
and industry and are based on information available as of the time
such statements are made. The forward-looking statements contained
in this press release speak only as of the date of this press
release. The Company undertakes no obligation to update any
forward- looking statements contained in this press release to
reflect new information, events or circumstances after the date
they are made, or to reflect the occurrence of unanticipated
events. Please refer to the Company’s filings with the Securities
and Exchange Commission including its Annual Report on Form 10-K
for the year ended December 31, 2018 (and the Company’s Annual
Report on Form 10-K for the year ended December 31, 2019, when
filed), and its Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2019, June 30, 2019, and September 30, 2019 for
more detailed information regarding these risks and uncertainties
and other factors that may cause actual results to differ
materially from those expressed or implied in the forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20200206005518/en/
INVESTORS: Endologix,
Inc. Vaseem Mahboob, CFO (949) 595-7200
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