Conceptus Inc. Reports Record $10 Million Second Quarter Net Sales

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--July 25, 2006--Conceptus, Inc. (Nasdaq:CPTS - News), developer of the Essure® non-incisional permanent birth control system, today reported financial results for the three and six months ended June 30, 2006. Net sales for the second quarter of 2006 were $10.0 million, up 99% over net sales of $5.0 million for the second quarter of 2005 and up 26% over net sales of $8.0 million for the first quarter of 2006. These results exceeded the Company's guidance for second quarter 2006 net sales of $9.0 million. The net loss for the second quarter of 2006 was $5.3 million, or $0.18 per share, including charges of $1.6 million, or $0.05 per share, for stock-based compensation due to the adoption of SFAS 123R. The net loss for the second quarter of 2005 was $6.0 million, or $0.24 per share, and the net loss for the first quarter of 2006 was $5.8 million, or $0.20 per share. The net loss for the 2006 second quarter, excluding stock-based compensation, was better than the Company's guidance for a net loss of $4.5 million to $4.7 million also excluding stock-based compensation expense.