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NMT Medical Inc., a maker of medical implant technologies, has lowered its revenue guidance for the second quarter and fiscal 2009 amid a slower-than-expected sales expansion in Europe and Latin America.
The Boston-based company (Nasdaq: NMTI) said revenue for the second quarter that ended June 30 will be around $3.2 million, down from the $3.8 million to $4.3 million predicted in May.
For the full year ended Dec. 31, NMT expects to book between $14 million and $15 million, off from the $16 million to $18 million announced two months ago.
“Despite this delay, we are continuing to increase our commercial market share in those markets, and we are making progress in our geographic expansion,” said NMT president and CEO Frank Martin in a prepared written statement. “We expect to realize top-line benefits from these actions during the second half of this year.”
He said the company has plenty of cash to follow through on its plans, having recently secured a $4 million, two-year credit agreement with Silicon Valley Bank.
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