Conceptus Announces Reorganization; Backs FY12 Outlook - Quick Facts

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6/28/2012 5:02 PM ET

Conceptus, Inc. (CPTS: Quote) announced a reorganization to unify the global sales and marketing groups under one organization. The company announced that Ric Cote, executive vice president of global sales and Sam Trujillo, executive vice president of marketing will be leaving the company to pursue other opportunities effective immediately.

The company said it has begun a search to appoint a new chief commercial officer who will report to Keith Grossman, the Company's president and chief executive officer.

In connection with the reorganization, the Company reaffirmed its full year 2012 financial guidance.

For fiscal 2012, the company still anticipates net income to be in a range of $3.032 million - $4.125 million, and adjusted net income of $22.968 million - $ 23.875 million. The company still expects 2012 net sales to be in the range of $140 million to $144 million. Analysts polled by Thomson Reuters expect the company to report revenues of $141.86 million for fiscal 2012. Analysts' estimates typically exclude special items.

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