UNITED STATES

SECURITIES  AND  EXCHANGE  COMMISSION

 

Washington, D.C. 20549

 

 

FORM 10-Q

 

 

For the transition period from           to            .

 

Commission file number:  0-27596

 

CONCEPTUS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		94-3170244
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

 

1021 Howard Avenue

San Carlos, CA  94070

(Address of principal executive offices)

 

Registrant’s telephone number, including area code:  (650) 628-4700

 

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for at least the past 90 days.

 

Yes    ý

No    o

 

 

Indicate by checkmark whether the registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2).
Yes ý         No o

 

As of October 31, 2004, 25,574,030 shares of the registrant’s Common Stock were outstanding.

 

 

CONCEPTUS, INC.

 

FORM 10-Q for the Quarter Ended September 30, 2004

 

INDEX

 

Part I.	Financial Information
Item 1.	Condensed Consolidated Financial Statements (unaudited)
	a)	Condensed Consolidated Balance Sheets as of September 30, 2004 and December 31, 2003
	b)	Condensed Consolidated Statements of Operations for the three and nine month periods ended September 30, 2004 and 2003
	c)	Condensed Consolidated Statements of Cash Flows for the nine month periods ended September 30, 2004 and 2003
	d)	Notes to Condensed Consolidated Financial Statements
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations
Item 3.	Quantitative and Qualitative Disclosures About Market Risk
Item 4.	Controls and Procedures
Part II.	Other Information
Item 1.	Legal Proceedings
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.	Defaults upon Senior Securities
Item 4.	Submission of Matters to a Vote of Security Holders
Item 5.	Other Information
Item 6.	Exhibits
Signature
Certifications

 

2

 

PART I: FINANCIAL INFORMATION

 

ITEM 1. Condensed Consolidated Financial Statements

 

 

Conceptus, Inc.

 

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)

 

		September 30, 2004			December 31, 2003
Assets
Current assets:
Cash and cash equivalents		$	37,204		$	30,794
Restricted cash		69			69
Accounts receivable, net		1,761			1,582
Inventories, net		1,790			2,682
Other current assets		1,056			504
Total current assets		41,880			35,631
Property and equipment, net		1,433			2,031
Intangible assets, net		1,800			1,950
Other assets		2,038			2,238
Total assets		$	47,151		$	41,850
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable		$	2,164		$	2,698
Accrued compensation		1,232			2,691
Other accrued liabilities		963			2,491
Total current liabilities		4,359			7,880
Other long-term liabilities		115			233
Total liabilities		4,474			8,113
Stockholders’ equity:
Common stock and additional paid-in capital		219,586			190,971
Accumulated other comprehensive income		—			26
Accumulated deficit		(176,909		)	(157,260		)
Total stockholders’ equity		42,677			33,737
Total liabilities and stockholders’ equity		$	47,151		$	41,850

 

The accompanying notes are an integral part of these condensed consolidated financial statements

 

3

 

Conceptus, Inc.

 

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share amounts)

 

		Three Months Ended September 30,						Nine Months Ended September 30,
		2004			2003			2004			2003
Net sales		$	2,840		$	2,252		$	7,990		$	5,446
Cost of goods sold		1,559			1,809			5,355			4,725
Gross profit		1,281		<