Products and Services

3 Months Ended

Mar. 31, 2015

Products and Services [Abstract]

Products and Services

(11) Products and Services

Historically, the Company has described its business in terms of three product categories as follows:

· Catheter products consist principally of catheters used in minimally invasive medical procedures for the diagnosis or treatment of vascular conditions, such as the GuideLiner^® catheter used to access discrete regions of the coronary anatomy and the Pronto^® extraction catheters used in treating acute myocardial infarction.  This category also includes products used in connection with gaining percutaneous access to the vasculature to perform minimally invasive procedures, such as micro-introducer kits.

· Hemostat products consist principally of blood clotting products, such as the D-Stat^® Dry hemostat, a topical thrombin-based pad with a bandage used to control surface bleeding, and the D-Stat Flowable, a thick yet flowable thrombin-based mixture for preventing bleeding in subcutaneous pockets.  This category also includes products used in radial artery access catheterizations, such as the Accumed^™ wrist positioning splints and Vasc^™ Band inflatable compression bands.

· Vein products and services consist principally of the Vari-Lase^® endovenous laser products consisting of laser consoles and procedure kits used for the treatment of varicose veins, and a reprocessing service for a competitor’s radiofrequency vein ablation catheter.

The following tables set forth, for the periods indicated, net revenue by product category along with the percent change from the previous period:

	Three Months Ended March 31,
	2015					2014
	Net Revenue		Percent Change			Net Revenue		Percent  Change
Catheter products	$	23,857,000		24	%	$	19,164,000		15	%
Hemostat products		6,177,000		3	%		5,997,000		4	%
Vein products and services		4,407,000		(6	%)		4,684,000		31	%
Total product revenue		34,441,000		15	%		29,845,000		15	%
License		170,000		173	%		62,000		(29	%)
Total revenue	$	34,611,000		16	%	$	29,907,000		15	%

Due to the growth in the number of the company’s  product offerings and in order to present a more detailed product-specific revenue analysis, beginning in the first quarter of 2015 the Company commenced reporting net revenue for each of its top product lines in each of its primary markets.  Beginning in the second quarter of 2015, the Company will no longer report its revenue according to the three product categories outlined above.  The following tables set forth, for the periods indicated, net revenue by product line along with the percent change from the previous period for each of the Company’s top seven products by net revenue:

		Three months ended March 31,
		2015					2014
Product Line	Primary Market	Net Revenue		Percent Change			Net Revenue
GuideLiner catheters	Interventional cardiology	$	10,340,000		54	%	$	6,703,000
Pronto catheters	Interventional cardiology		4,382,000		(6	%)		4,676,000
Hemostatic patches	Interventional cardiology		3,022,000		(4	%)		3,164,000
Micro-introducer kits	Interventional radiology		2,854,000		22	%		2,333,000
Vein catheter reprocessing	Phlebology		2,712,000		1	%		2,680,000
Radial access products	Interventional cardiology		1,638,000		23	%		1,333,000
D-Stat Flowable hemostat	Electrophysiology		1,371,000		1	%		1,352,000

The Company sells its products into four primary clinical markets:  interventional cardiology, interventional radiology, electrophysiology, and phlebology (vein treatment).   The Company estimates the percentage of its revenue that is generated in each market by estimating the percentage of sales of each product that is made to customers for use in that market.  During the first quarter of 2015, the Company estimates that 73% of its product sales by revenue were generated from the interventional cardiology market, 13% from the phlebology market, 10% from the interventional radiology market and 4% from the electrophysiology market.