WILMINGTON, N.C., Oct. 6, 2009 (GLOBE NEWSWIRE) — TranS1 Inc. (Nasdaq:TSON) a medical device company focused on designing, developing and marketing products that implement its proprietary minimally invasive surgical approach to treat degenerative disc disease and instability affecting the lower lumbar region of the spine, announced today that revenues for the third quarter of 2009 are expected to be approximately $6.8 to $6.9 million. While this represents growth of approximately 15% over the prior year period, the expected revenues are less than the Company’s previously announced guidance of $7.4 to $7.9 million for the quarter.
“Our results this quarter were impacted by continuing concerns and uncertainty in the marketplace surrounding reimbursement for our AxiaLIF procedure, which we are addressing with increased education and support resources for our current and prospective surgeon users,” said Rick Randall, President and CEO of TranS1. “While we are disappointed that our third quarter revenues are below previously issued guidance we remain confident in our products, clinical benefits and prospects for future growth as the market for minimally invasive spine surgery continues to expand.”
The Company will provide more information when it releases its full third quarter results, which is expected to occur after the close of trading on October 29, 2009.