Ossur First Quarter Report for 2008

Ossur, Reykjavik, Iceland, released a first-quarter report of its earning for 2008. The report shows total U.S. sales of $89.8 million, with organic sales growth of 12 percent. The company reported a net profit of $6.7 in the first quarter of 2008 million compared to a net loss of $2.7 million in the first quarter of 2007.

"We are pleased with the results of the first quarter of the year," said Jon Sigurdsson, president and CEO of Ossur. "Traditionally, Europe and Asia are showing excellent growth both in prosthetics and bracing and supports. Prosthetics sales continue to exceed market growth, confirming Ossur's strength in this market segment. Sales of bracing and support products in the U.S. are still challenging. However, the company's management is confident that a turnaround is on the horizon. Some of the main focus areas in 2008 are profitability and exploiting cross-selling opportunities as well as product rationalization. Important projects supporting this have already been initiated."

For a full report, visit www.ossur.com/?PageID=631&NewsID=2244