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Article Excerpt
Conference Call Begins Today at 5:00 p.m. Eastern Time
ST. PAUL, Minn. -- Restore Medical, Inc. (NASDAQ:REST), developer of the innovative Pillar([R]) Palatal Implant System, today announced financial results for the three and six months ended June 30, 2007. The Pillar Palatal Implant System is a proven and effective in-office treatment for people suffering from snoring and mild to moderate obstructive sleep apnea (OSA) that improves the lifestyles of patients and their bed partners by helping them to sleep better, feel better and live better.
Second Quarter Financial Results
Net sales for the second quarter of 2007 were $1.0 million, compared with net sales of $1.8 million for the second quarter of 2006. U.S. sales were $950,000 compared with $1.4 million for the second quarter of 2006, and international sales were $86,000 compared with $411,000 for the prior year's second quarter. The decrease in domestic sales is due to the disruption caused by the restructuring of the Company's sales organization and implementation of the sales and marketing strategies required to support the new integrated consultative sales approach that the Company initiated in the fourth quarter of 2006. The decrease in international sales was primarily due to lower sales to the Company's two largest distributors for the Asia Pacific market, combined with the Company's decision in...
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