First quarter net income was $1
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First quarter net income was $1.9 million, compared with a net loss of $0.4million for the first quarter of 2008 and net income of $3.5 million for thefourth quarter of 2008. Disposable cathetersand device unit sales increased in the first quarter of 2009 by 33% compared tothe first quarter of 2008 and decreased 7% sequentially. The increase in netproduct revenues in the first quarter of 2009 as compared to the same period in2008 was due to continuing higher sales of disposable ClosureFAST catheters andClosureRFS devices, and higher overall international sales. Firstquarter net product revenues seasonally decreased 9% compared to net productrevenues in the fourth quarter of 2008 of $26.0 million. Net product revenues for the first quarter of 2009 increased $4.9 million to$23.7 million compared to $18.9 million for the first quarter of 2008.
Royaltyrevenues are derived from other companies paying royalties for a license tocertain VNUS patents previously subject to an infringement lawsuit. Net product revenues are derived from the sale of disposableendovenous catheters and devices, RF generators and accessory products. Net revenuesfor the first quarter of 2009 included net product revenues and royaltyrevenues. Net revenues seasonally decreasedby 9% when compared to the fourth quarter of 2008 at $27.2 million. Net revenues for the first quarter increased 31% to $24.7 million compared with$18.9 million for the first quarter of 2008. (Nasdaq:VNUS), a leading provider of medicaldevices for the minimally invasive treatment of venous disease, today announcedits financial results for the first quarter ended March 31, 2009.
$24.7 Million Net Revenues,$0.11 Net Income Per ShareSAN JOSE, Calif.--(Business Wire)--VNUS Medical Technologies, Inc. (Reporting by Scott DiSavino; Editing by John Picinich) Stocks Global Markets. Exelon, of Chicago, owns and operates more than 38,000 MW of generatingcapacity, markets energy commodities, and transmits and distributeselectricity to 5.4 million and distributes natural gas to 480,000 customersin Illinois and Pennsylvania. In April 2009, the NRC renewed the plant's original 40-year operatinglicenses for another 20 years until 2029 One MW powers about 800 homes in New Jersey. It is located in Forked River in OceanCounty, about 60 miles east of Philadelphia. Oyster Creek entered service in 1969 making it the oldest operatingnuclear reactor in the nation. In February, the same transformer that was replaced in Novemberwas damaged in a fire and had to be replaced again.
Oyster Creek has had several problems with its transformers during thepast several months In November, a transformer failed and had to bereplaced. Stocks | Global Markets The unit shut on April 25 due to an equipment failure on one of its twomain transformers. NEW YORK, May 8 (Reuters) - Exelon Corp's (EXC.N) 619-megawatt OysterCreek nuclear power station in New Jersey ramped up to full power by earlyFriday from 70 percent early Thursday after exiting an outage earlier inthe week, the U.S Nuclear Regulatory Commission said in a report. The Board is in the process of identifyinga replacement and we expect to make an announcement shortly.This interim management statement is available on the KGR Capital/LGT CapitalPartners website: further information contact:Edward Cartwright or Pia Skogstrom,LGT Capital Partners (U.K.) LimitedTel: 0207 823 2900Fortis Fund Services (Guernsey) LimitedCompany SecretaryTel: 01481 7510008 May 2009END. Cash as at 31 March 2009accounted for approximately 9.34% of net asset value.Material EventsDuring the quarter the Company purchased 3,450,000 shares at an average priceof 82.70 pence per share and an average discount to net asset value of 14.25%.These will be held in Treasury and if not subsequently reissued, cancelledafter one year.BoardDennis Phillips has indicated his intention to retire from the Board at theforthcoming Annual General Meeting. 4.26%As at 31 March 2009 the proportion of net assets invested in funds withredemption restrictions in force was less than 10%.

