Message #5 From:
NewsBot Date: August 16, 2006 06:30:00 AM
IOPM News IntraOp Medical Releases Fiscal Third Quarter 2006 Results; Third Quarter Mobetron(R) Orders Expected to Drive Historic Revenues in Fourth Quarter
SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 16, 2006--IntraOp Medical Corporation (OTCBB: IOPM), manufacturer and developer of the Mobetron(R), an FDA-cleared device used to deliver intraoperative electron radiation therapy (IOERT) during cancer surgery, issued its third quarter financial results for the period ended June 30, 2006.
The Company reported total revenues of $85,419 for the quarter ended June 30, 2006, compared to $161,794 for the same period in the prior year. The decline in revenue was primarily the result of a reduction in leasing revenue from a Mobetron system being prepared for resale to a new IntraOp customer in Antwerp, Belgium.
Donald A. Goer, Ph.D., President and Chief Executive Officer of IntraOp, commented: "Although our third quarter was uneventful in terms of revenue, we have made significant strides in the development and marketing of the Mobetron. We also received a number of orders, including the first from China and Belgium, and completed production of Mobetron systems that will be shipped in the fourth quarter. We are especially encouraged by the growing interest and demand we have seen worldwide in IOERT technology. With the effectiveness of IntraOp's proprietary Mobetron, we believe this growing interest will result in further growth in orders and sales."
Among the recent milestones reached by the Company, Dr. Goer reported:
-- The receipt of the 20th Mobetron order worldwide from the Westeinde Hospital in The Hague, Netherlands
The Company has also received further clinical validation through recently published studies indicating IOERT's effectiveness in treating pancreatic cancer and advanced head and neck cancer.
Dr. Don Goer concluded: "I am satisfied with the progress we made this quarter, and I am especially looking forward to reporting the Company's fourth quarter and year-end results, which we expect will set both quarterly and annual revenue records for IntraOp."
About IntraOp Medical Corporation
IntraOp Medical Corporation improves the quality of life for cancer patients through the development, manufacturing and sales of its proprietary Mobetron system. The Mobetron is a mobile electron-beam accelerator designed exclusively for intraoperative radiation therapy (IOERT), the direct application of radiation to a tumor while a patient is undergoing cancer surgery. The system makes IORT widely available, cost effective, and simple to deliver because it is easily transportable between operating rooms and does not require a cost-prohibitive, radiation shielded surgical suite. The system is FDA-certified for sale in the United States and has received the equivalent foreign approvals: CE Mark in Europe, JIS in Japan and SDA in China. IntraOp Medical Corporation is based in Sunnyvale, California. For more information please visit www.intraopmedical.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as competition in the markets for the company's products and services and the ability of the Company to execute its plans. By making these forward-looking statements, the Company can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release.
