Surge in First Quarter Fiscal 1999 Revenues for Eclipse

Eclipse Surgical Technologies Inc. (Sunnyvale, CA) today reported revenues for the first quarter (ended March 31) of $4.5 million, up about 187% compared to $2.4 million in the first quarter of 1998. Net loss for the first quarter, including $6.9 million of merger related costs, was $15.2 million ($0.55 per share), up about 26% compared to a net loss of $11.2 million ($0.42 per share) in the corresponding quarter of 1998.

Sales were up due primarily to increased sales of the company's TMR laser systems and disposable products. All results have been restated to include the effect of the combination of Eclipse Surgical Technologies Inc. (Sunnyvale, CA) and CardioGenesis Corp. (Sunnyvale, CA) on March 17.