Alsius Corp. falls, misses Q2 revenue expectations

Preliminary results show that Alsius Corp.’s (Nasdaq: ALUS) third-quarter revenue will fall below expectations, the maker of medical devices announced before the opening.

The Irvine, Calif.-based company pre-released preliminary unaudited financial results for its third quarter ended Sept. 30, according to which revenue will be $1.9 million, compared with revenue of $1.8 million a year earlier. That’s a growth rate of 6%, below Alsius’s projections.

The revenue shortfall will also be evidenced in the company’s full year returns. Alsius reported that it forecasts fiscal 2007 sales of $8.5 million to $9.5 million, down from prior estimates of $11.5 million to $12.5 million. It blamed revenue declines in Europe, which more than offset record quarterly revenue numbers in the United States.

“We have a large number of hospitals evaluating our products and while we are not losing business, we are not closing the sale as fast as expected,” said president and CEO Bill Worthen in a statement.

At 3:57 p.m. ET, Alsius Corp. (ALUS) shares had deflated $0.86, or 15%, to $4.99. That’s not far from the 52-week low of $4.32, which was reached on Aug. 29. The 52-week high of $6.80 was touched on July 12.

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