Micro Therapeutics Reports Record Sales in 2001 First Quarter

- Net Sales Leap 96% to a Record $2.2 Million

- Revenues from Onyx(TM) and Related Products Increase 125%

- Company Initiates Key Pivotal U.S. Clinical Study for Onyx

- Financial Results Conference Call Scheduled Today at 8:00 A.M. PDT;

Simultaneous Webcast to Be Found at www.streetfusion.com



Apr 20, 2001, 01:00 ET from Micro Therapeutics, Inc.

    IRVINE, Calif., April 20 /PRNewswire Interactive News Release/ -- Micro
 Therapeutics, Inc. (MTI) (Nasdaq: MTIX) today reported record net sales of
 $2,216,764 for the first quarter ended March 31, 2001, an increase of 96% over
 net sales of $1,130,599 in the same period last year.  Net loss for the
 quarter was $3,408,172, or $.34 per share, compared with a net loss of
 $2,560,094, or $.30 per share, in the 2000 first quarter.
     Commenting on the quarter, John Rush, MTI's president and chief executive
 officer, said, "This has been an exceptional quarter for MTI on many fronts.
 In addition to growing our sales base, we also were successful in obtaining
 approval from the FDA to initiate our much-anticipated U.S. clinical studies
 of Onyx(TM) for the treatment of brain aneurysms and arteriovenous
 malformations.  As we announced earlier this week, we have completed our first
 case in the aneurysm study, and we are working closely with lead investigators
 to initiate the arteriovenous malformation study during the second quarter.
 We expect that these studies will build on our existing, positive clinical
 data that currently has supported Onyx product marketing efforts in Europe."
 Rush added that, in previous studies and in commercial applications, where
 approved, worldwide and across all therapies, Onyx has been used in
 approximately 800 procedures.
     "Turning to product sales, this quarter marks our strongest ever, with
 expansion in all product lines," continued Rush.  "In particular, net sales of
 Onyx grew 90% and European Onyx sales nearly doubled from the same period last
 year due to the expanded use of Onyx for arteriovenous malformations.  Total
 micro catheter, access and delivery product sales increased 140% over the
 corresponding period in 2000, reflecting the benefits of the increase in Onyx
 procedures, a larger sales force in the U.S. and an expanded product
 portfolio.  Sales of peripheral blood clot therapy products in the first
 quarter jumped 62%, underscoring the benefits of our revised U.S. marketing
 agreement with our partner Abbott Laboratories."
     As a percentage of sales, gross profit for the first quarter of 2001
 improved to 50% from 36%, primarily due to a shift in product mix to the
 higher margin neuro vascular products, the change in the company's agreement
 with Abbott Laboratories for distribution in the U.S. of the company's
 peripheral blood clot therapy products, which became effective in mid-2000,
 and the company's ability to leverage fixed overhead costs with higher sales
 volumes.  On a sequential basis, gross profit improved from 47% as reported in
 the fourth quarter of 2000 due to the continued favorable trends in product
 mix and sales volume.
     For the 2001 first quarter, the company reported a 35% increase in
 research and development expenses as internal R&D efforts were expanded.
 Selling, general and administrative expenses increased 78% reflecting the
 expansion of sales and marketing capabilities that were initiated in 2000.
 
     Onyx Liquid Embolic System (Onyx LES(TM))
     "Armed with increasingly positive clinical data and successful patient
 outcomes, we continue to believe Onyx will prove to be the treatment protocol
 of choice for embolizing vascular malformations in the brain," said Rush.
 With respect to Onyx, Rush said the company is actively working on the
 following near-term initiatives:
 
     -- Completing, in May 2001, the 100-patient CAMEO (Cerebral Aneurysm
        Multi-center European Onyx) Registry, to provide data for European
        commercialization initiatives (71 cases have been performed to date);
     -- Commercially launching Onyx for the treatment of aneurysms in Europe
        with marketing partner Guidant upon the completion of the CAMEO
        Registry;
     -- Continuing European market penetration of Onyx for the treatment of
        arteriovenous malformations (AVMs) with Guidant;
     -- Completing, within one year, the 15-site, 138-patient pivotal U.S.
        clinical trial for the treatment of brain aneurysms;
     -- Initiating and completing, within one year, the 15-site, 106-patient
        pivotal U.S. clinical trial for the treatment of AVMs.
 
     The Onyx liquid embolic material is delivered through MTI's proprietary
 micro catheters directly into a vascular malformation, such as an aneurysm or
 AVM.  Once inside the targeted malformation, the liquid transforms into a
 spongy polymer mass designed to fill the malformation and reduce the risk of
 rupture and subsequent stroke.  Onyx is non-adhesive, which enhances
 controllability during delivery, and it is visible under fluoroscopy --
 allowing clinicians a clear view of the embolization procedure in real-time.
 
     About Micro Therapeutics
     Micro Therapeutics, founded in 1993 and based in Irvine, California,
 develops, manufactures and markets minimally invasive medical devices for the
 diagnosis and treatment of vascular disease.
 
     Conference Call Information and Forward-Looking Statements
     On Friday, April 20, 2001, the company will host a conference call with
 industry analysts beginning at 8:00 a.m. PDT to review the results of
 operations for the first quarter ended March 31, 2001.  Discussion during the
 conference call may include forward-looking statements regarding such topics
 as, but not limited to, the company's revenues, margins, operating expenses,
 distribution arrangements, clinical studies and financing plans, and any
 comments the company may make about its future in response to questions from
 the analysts participating in the conference call.  The conference call may be
 heard by any interested party through a live audio Internet broadcast at
 http://www.streetfusion.com.  For those unable to listen to the live
 broadcast, a playback of the call will be available at
 http://www.streetfusion.com through 12:00 p.m. PDT, April 27, 2001.
 
     Statements contained in this press release which are not historical
 information are forward-looking statements as defined within the Private
 Securities Litigation Reform Act of 1995.  Such forward-looking statements are
 subject to risks and uncertainties which could cause actual results to differ
 materially from those projected or implied.  Such potential risks and
 uncertainties relate, but are not limited, to, in no particular order:
 effectiveness and pace of current and future product development, success of
 clinical testing, product demand and market acceptance, the impact of
 competitive products and pricing, and regulatory approval.  More detailed
 information on these and additional factors which could affect Micro
 Therapeutics, Inc.'s operating and financial results are described in the
 company's Forms 10-QSB, 10-KSB and other reports, filed or to be filed with
 the Securities and Exchange Commission.  Micro Therapeutics, Inc. urges all
 interested parties to read these reports to gain a better understanding of the
 many business and other risks that the company faces.  Additionally, Micro
 Therapeutics, Inc. undertakes no obligation to publicly release the results of
 any revisions to these forward-looking statements, which may be made to
 reflect events or circumstances occurring after the date hereof or to reflect
 the occurrence of unanticipated events.
 
 
      MICRO THERAPEUTICS, INC.
      Statement of Operations Data
      (unaudited)
 
 
                                                  Three Months Ended March 31
                                                   3/31/2001      3/31/2000
 
     Net sales                                     $2,216,764     $1,130,599
     Cost of sales                                  1,111,426        725,643
     Gross profit                                   1,105,338        404,956
 
     Operating expenses:
         Research & development                     2,231,690      1,658,022
         Selling, general & administrative          2,116,908      1,187,756
             Total operating expenses               4,348,598      2,845,778
 
     Loss from operations                          (3,243,260)    (2,440,822)
 
     Interest & other income (expense), net          (164,912)      (118,472)
 
     Loss before taxes                             (3,408,172)    (2,559,294)
     Income tax expense                                   800            800
     Net loss                                     $(3,408,972)   $(2,560,094)
 
 
     Net loss per share (basic and diluted)           $(0.34)        $(0.30)
     Weighted average shares outstanding
      (in thousands)                                    9,981          8,673
 
 
      Balance Sheet Data
      (unaudited)
 
                                                  3/31/2001       3/31/2000
     Cash and cash equivalents                    $5,903,318     $18,653,492
     Working capital                              $8,003,195     $19,491,978
     Total assets                                $13,736,754     $24,597,792
     Long-term portion of debt and
      capital lease obligations                  $11,078,735     $10,697,971
     Accumulated deficit                        $(56,011,405)   $(43,377,237)
     Total stockholders' equity (deficiency)       $(191,240)    $11,636,149
 
 
      MICRO THERAPEUTICS, INC.
      Revenues by Segment
      (unaudited)
 
 
                                                  Three Months Ended March 31
                                                       2001           2000
 
     Peripheral blood clot therapy
         United States                               $730,269       $432,963
         International                                 20,071         33,004
     Total peripheral blood clot
      therapy net sales                               750,340        465,967
 
 
     Onyx
         United States                                 25,300          1,150
         International                                336,120        187,801
     Total Onyx net sales                             361,420        188,951
 
     Micro catheter, access and delivery
         United States                                339,774         85,775
         International                                751,878        369,255
     Total micro catheter, access
      and delivery net sales                        1,091,652        455,030
 
     Other
         United States                                 13,352         20,602
         International                                     --             49
     Total other net sales                             13,352         20,651
 
     Total net sales                               $2,216,764     $1,130,599
 
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X69460738
 
 

SOURCE Micro Therapeutics, Inc.
    IRVINE, Calif., April 20 /PRNewswire Interactive News Release/ -- Micro
 Therapeutics, Inc. (MTI) (Nasdaq: MTIX) today reported record net sales of
 $2,216,764 for the first quarter ended March 31, 2001, an increase of 96% over
 net sales of $1,130,599 in the same period last year.  Net loss for the
 quarter was $3,408,172, or $.34 per share, compared with a net loss of
 $2,560,094, or $.30 per share, in the 2000 first quarter.
     Commenting on the quarter, John Rush, MTI's president and chief executive
 officer, said, "This has been an exceptional quarter for MTI on many fronts.
 In addition to growing our sales base, we also were successful in obtaining
 approval from the FDA to initiate our much-anticipated U.S. clinical studies
 of Onyx(TM) for the treatment of brain aneurysms and arteriovenous
 malformations.  As we announced earlier this week, we have completed our first
 case in the aneurysm study, and we are working closely with lead investigators
 to initiate the arteriovenous malformation study during the second quarter.
 We expect that these studies will build on our existing, positive clinical
 data that currently has supported Onyx product marketing efforts in Europe."
 Rush added that, in previous studies and in commercial applications, where
 approved, worldwide and across all therapies, Onyx has been used in
 approximately 800 procedures.
     "Turning to product sales, this quarter marks our strongest ever, with
 expansion in all product lines," continued Rush.  "In particular, net sales of
 Onyx grew 90% and European Onyx sales nearly doubled from the same period last
 year due to the expanded use of Onyx for arteriovenous malformations.  Total
 micro catheter, access and delivery product sales increased 140% over the
 corresponding period in 2000, reflecting the benefits of the increase in Onyx
 procedures, a larger sales force in the U.S. and an expanded product
 portfolio.  Sales of peripheral blood clot therapy products in the first
 quarter jumped 62%, underscoring the benefits of our revised U.S. marketing
 agreement with our partner Abbott Laboratories."
     As a percentage of sales, gross profit for the first quarter of 2001
 improved to 50% from 36%, primarily due to a shift in product mix to the
 higher margin neuro vascular products, the change in the company's agreement
 with Abbott Laboratories for distribution in the U.S. of the company's
 peripheral blood clot therapy products, which became effective in mid-2000,
 and the company's ability to leverage fixed overhead costs with higher sales
 volumes.  On a sequential basis, gross profit improved from 47% as reported in
 the fourth quarter of 2000 due to the continued favorable trends in product
 mix and sales volume.
     For the 2001 first quarter, the company reported a 35% increase in
 research and development expenses as internal R&D efforts were expanded.
 Selling, general and administrative expenses increased 78% reflecting the
 expansion of sales and marketing capabilities that were initiated in 2000.
 
     Onyx Liquid Embolic System (Onyx LES(TM))
     "Armed with increasingly positive clinical data and successful patient
 outcomes, we continue to believe Onyx will prove to be the treatment protocol
 of choice for embolizing vascular malformations in the brain," said Rush.
 With respect to Onyx, Rush said the company is actively working on the
 following near-term initiatives:
 
     -- Completing, in May 2001, the 100-patient CAMEO (Cerebral Aneurysm
        Multi-center European Onyx) Registry, to provide data for European
        commercialization initiatives (71 cases have been performed to date);
     -- Commercially launching Onyx for the treatment of aneurysms in Europe
        with marketing partner Guidant upon the completion of the CAMEO
        Registry;
     -- Continuing European market penetration of Onyx for the treatment of
        arteriovenous malformations (AVMs) with Guidant;
     -- Completing, within one year, the 15-site, 138-patient pivotal U.S.
        clinical trial for the treatment of brain aneurysms;
     -- Initiating and completing, within one year, the 15-site, 106-patient
        pivotal U.S. clinical trial for the treatment of AVMs.
 
     The Onyx liquid embolic material is delivered through MTI's proprietary
 micro catheters directly into a vascular malformation, such as an aneurysm or
 AVM.  Once inside the targeted malformation, the liquid transforms into a
 spongy polymer mass designed to fill the malformation and reduce the risk of
 rupture and subsequent stroke.  Onyx is non-adhesive, which enhances
 controllability during delivery, and it is visible under fluoroscopy --
 allowing clinicians a clear view of the embolization procedure in real-time.
 
     About Micro Therapeutics
     Micro Therapeutics, founded in 1993 and based in Irvine, California,
 develops, manufactures and markets minimally invasive medical devices for the
 diagnosis and treatment of vascular disease.
 
     Conference Call Information and Forward-Looking Statements
     On Friday, April 20, 2001, the company will host a conference call with
 industry analysts beginning at 8:00 a.m. PDT to review the results of
 operations for the first quarter ended March 31, 2001.  Discussion during the
 conference call may include forward-looking statements regarding such topics
 as, but not limited to, the company's revenues, margins, operating expenses,
 distribution arrangements, clinical studies and financing plans, and any
 comments the company may make about its future in response to questions from
 the analysts participating in the conference call.  The conference call may be
 heard by any interested party through a live audio Internet broadcast at
 http://www.streetfusion.com.  For those unable to listen to the live
 broadcast, a playback of the call will be available at
 http://www.streetfusion.com through 12:00 p.m. PDT, April 27, 2001.
 
     Statements contained in this press release which are not historical
 information are forward-looking statements as defined within the Private
 Securities Litigation Reform Act of 1995.  Such forward-looking statements are
 subject to risks and uncertainties which could cause actual results to differ
 materially from those projected or implied.  Such potential risks and
 uncertainties relate, but are not limited, to, in no particular order:
 effectiveness and pace of current and future product development, success of
 clinical testing, product demand and market acceptance, the impact of
 competitive products and pricing, and regulatory approval.  More detailed
 information on these and additional factors which could affect Micro
 Therapeutics, Inc.'s operating and financial results are described in the
 company's Forms 10-QSB, 10-KSB and other reports, filed or to be filed with
 the Securities and Exchange Commission.  Micro Therapeutics, Inc. urges all
 interested parties to read these reports to gain a better understanding of the
 many business and other risks that the company faces.  Additionally, Micro
 Therapeutics, Inc. undertakes no obligation to publicly release the results of
 any revisions to these forward-looking statements, which may be made to
 reflect events or circumstances occurring after the date hereof or to reflect
 the occurrence of unanticipated events.
 
 
      MICRO THERAPEUTICS, INC.
      Statement of Operations Data
      (unaudited)
 
 
                                                  Three Months Ended March 31
                                                   3/31/2001      3/31/2000
 
     Net sales                                     $2,216,764     $1,130,599
     Cost of sales                                  1,111,426        725,643
     Gross profit                                   1,105,338        404,956
 
     Operating expenses:
         Research & development                     2,231,690      1,658,022
         Selling, general & administrative          2,116,908      1,187,756
             Total operating expenses               4,348,598      2,845,778
 
     Loss from operations                          (3,243,260)    (2,440,822)
 
     Interest & other income (expense), net          (164,912)      (118,472)
 
     Loss before taxes                             (3,408,172)    (2,559,294)
     Income tax expense                                   800            800
     Net loss                                     $(3,408,972)   $(2,560,094)
 
 
     Net loss per share (basic and diluted)           $(0.34)        $(0.30)
     Weighted average shares outstanding
      (in thousands)                                    9,981          8,673
 
 
      Balance Sheet Data
      (unaudited)
 
                                                  3/31/2001       3/31/2000
     Cash and cash equivalents                    $5,903,318     $18,653,492
     Working capital                              $8,003,195     $19,491,978
     Total assets                                $13,736,754     $24,597,792
     Long-term portion of debt and
      capital lease obligations                  $11,078,735     $10,697,971
     Accumulated deficit                        $(56,011,405)   $(43,377,237)
     Total stockholders' equity (deficiency)       $(191,240)    $11,636,149
 
 
      MICRO THERAPEUTICS, INC.
      Revenues by Segment
      (unaudited)
 
 
                                                  Three Months Ended March 31
                                                       2001           2000
 
     Peripheral blood clot therapy
         United States                               $730,269       $432,963
         International                                 20,071         33,004
     Total peripheral blood clot
      therapy net sales                               750,340        465,967
 
 
     Onyx
         United States                                 25,300          1,150
         International                                336,120        187,801
     Total Onyx net sales                             361,420        188,951
 
     Micro catheter, access and delivery
         United States                                339,774         85,775
         International                                751,878        369,255
     Total micro catheter, access
      and delivery net sales                        1,091,652        455,030
 
     Other
         United States                                 13,352         20,602
         International                                     --             49
     Total other net sales                             13,352         20,651
 
     Total net sales                               $2,216,764     $1,130,599
 
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X69460738
 
 SOURCE  Micro Therapeutics, Inc.