NMT Medical (NMTI) Lowers Q2 and FY Revenue Gudiance

July 6, 2009 8:34 AM EDT

NMT Medical, Inc. (NASDAQ: NMTI) sees Q2 revenues approximately $3.2 million and for the full year 2009 of of approximately $14 to $15 million, versus prior guidance $3.8 to $4.3 million, and in the range of $16 to $18 million for full year 2009.

CEO Frank Martin said, "product registration in those target markets has taken longer than expected, which resulted in the revenue shortfall during the second quarter. Despite this delay, we are continuing to increase our commercial market share in those markets and we are making progress in our geographic expansion. We expect to realize top-line benefits from these actions during the second half of this year."

Martin also said they are confident that they have the cash necessary to complete ongoing trials and, assuming receipt of regulatory approvals, commercially launch our products.

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