| October 21, 2002 Endocardial Solutions Reports Third Quarter Earnings Results Total Sales Up 26% Year-to-Date Over 2001 Field Reorganization Complete MINNEAPOLIS / ST.PAUL -- Endocardial Solutions, Inc. (Nasdaq: ECSI) today reported net sales for the third quarter ended September 30, 2002 of $5,508,414, compared with $5,817,633 for the same period in 2001. Year-to-date revenue was $20,148,536, compared to $15,997,504 for the same period last year, an increase of 26%. The net loss for the third quarter was $3,117,673, or $.19 per share, compared with a net loss of $1,993,563, or $.13 per share, for the same period of 2001. Jim Bullock, President and CEO, stated, “the reorganization of the U.S. field operations that we implemented in August is now complete, and is yielding very positive early returns. The primary objectives of this reorganization were to improve the effectiveness, efficiency, and accountability of our field sales and clinical organization. The number of EnSite™ cases performed during August and September increased significantly, and we concurrently reduced our variable selling (travel) expenses. We believe these field organizational changes will continue to drive improved results in the fourth quarter, and ‘set the stage’ for the expected introduction of our next generation products in 2003.” “During the third quarter, we successfully completed our first human trials of our non-fluoroscopic navigation and localization technology (EnSite NavX™), and our ‘digital image fusion’ technology (EnSite DIF™)”, said Bullock. “We are very excited about the market potential of both of these applications, and we expect these products will further improve the clinical utility of the EnSite 3000™ system.” Third Quarter 2002 Earnings Conference Call October 22, 2002 9:30am (CDT) US/Canada: 1-877-272-5391 International: 1-706-634-0654 Moderator: Jim Bullock Instant Replay through October 29, 2002 US/Canada: 1-800-642-1687 International: 1-706-645-9291 Conference ID: 5976130 About Endocardial Solutions Based in St. Paul, Minnesota, Endocardial Solutions (www.endocardial.com) develops, manufactures, and markets technology for diagnostic mapping of complex arrhythmias (abnormally rapid heartbeats caused by irregular electrical activity in the heart). The EnSite 3000® System provides a 3D graphical display of the heart’s electrical activity. Contacts: Jim Bullock, President and CEO, Endocardial Solutions (651) 523-6928 jbullock@endocardial.com Brenda Gutzke, Investor Relations, Endocardial Solutions (651) 523-6959 bgutzke@endocardial.com |