Good afternoon and welcome to AtriCure's first quarter 2010 earnings conference call. My name is Sally and I will be your coordinator for the call today. At this time, all participants are in listen-only mode. We will be facilitating a question-and-answer session towards the end of today’s call. (Operator instructions) And I would now like to turn the call over to Mr. David Drachman, President and Chief Executive Officer of AtriCure. Mr. Drachman, please proceed.

Thank you, Sally. Good morning and welcome to our first quarter earnings conference call. Joining me on the call today is Julie Piton, Vice President of Finance and Administration and Chief Financial Officer. At this time, I would like to turn the call over to Julie for a few introductory comments.

Thank you, Dave. And good afternoon, everyone. By now, you should have received a copy of the earnings press release. If you have not received a copy, please call Sarah Wichman at 513-755-4136 and she will fax or email you a copy. Before we begin, let me remind you that the company’s remarks today may include forward-looking statements. These statements include, but are not limited to, those that address activities, events or developments that AtriCure expects, believes or anticipates, will or may occur in the future, such as revenue and earning estimates, other predictions of financial performance, launches of new products, and market acceptance of new products. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond AtriCure’s control, including but not limited to the rate and degree of market acceptance of AtriCure’s products, governmental approvals, and other risks and uncertainties described from time to time in AtriCure’s SEC filings. AtriCure’s results may differ materially from those projected on the call today, and AtriCure undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, we will refer to non-GAAP financial metrics. A reconciliation of these non-GAAP measures is included in our press release, which is available on our website. I would like to remind everyone on the call today that the Food and Drug Administration, or the FDA, has not cleared our products for the treatment of atrial fibrillation or AF. The company and others acting on its behalf may not promote any of its products for the surgical treatment of AF or train doctors to use the products for the surgical treatment of AF. AtriCure has provided research grants to institutions for the purpose of conducting certain studies that may be referred to on this call. The primary offers of the papers referred to on this call may also be consultants to AtriCure. With that, I would like to turn the call back to Dave.

Thank you, Julie, and welcome to members of the investment community who have joined us today. We will begin with a brief summary of our first quarter revenue results and then review our 2010 strategic priorities. Next, we will highlight our performance and ongoing opportunities for each of our three business sectors followed by a regulatory, clinical and product pipeline update. After my remarks, Julie will present a detailed review of our financial performance. I will then review our outlook and open the call for questions. Consolidated first quarter revenues of $14 million grew 2% compared to the same period a year ago. Notably, international revenues grew 27%. While our growth was modest, our first quarter revenue performance represents our stronger sales results since the third quarter of 2008. This is important as it underscores the positive trend in our performance and from our perspective, indicates a turnaround from the challenging conditions we experienced throughout 2009. We believe that our plans to strategically expand our US and international sales and marketing platforms is aligned with increasing sales momentum and the initial physician adoption of hybrid procedures. As a result, we are anticipating higher growth trends in the second half of 2010 and we project further acceleration in 2011. We remain committed to growing our business and are poised to build on our market leadership position in cardiac arrhythmia surgery while increasing mind share and strengthening partnerships in the electrophysiology community. We continue to monitor and optimize our cost structure while enhancing our sales and marketing platform, launching several new products, advancing our pipeline, and investing in FDA clinical trials and atrial fibrillation approvals. We see positive indicators and growth opportunities across all business segments. For 2010, our strategic priorities are growth, the successful execution of FDA regulatory and clinical milestones,…

Thank you, Dave. I will begin by providing information related to our revenues. For the first quarter of 2010, revenues from domestic open-heart products were $7.2 million, minimally invasive domestic revenues were $3.9 million, and international revenues were $2.9 million. Total revenues grew 2% to $14 million as compared to $13.7 million for the first quarter of 2009. International revenues grew 26.9% on a GAAP basis or 23.3% on a currency neutral basis. On a consolidated basis, first quarter 2010 revenue growth benefitted approximately 0.5% as a result of currency fluctuation. As a reminder, revenues from our multi-functional pen, which is used in both open and minimally invasive procedures, are allocated between open and minimally invasive product revenues based on our best estimate of the pen’s actual usage. Now turning to gross margins. Gross margin for the first quarter of 2010 was 76.5% as compared with 78.5% for the first quarter of 2009. The change in gross margin was a result of an increased mix of international revenues and a reduction in international gross margins driven primarily by the impact of new product sales in the European market. Next, an update on operating expenses. Operating expenses were $12.4 million, a 4.4% increase over first quarter 2009 adjusted operating expenses of $11.8 million, which excludes the $6.8 million goodwill impairment charge we took during the first quarter of 2009. The increase in SG&A was primarily due to an increase in sales and marketing headcount related expenses to capitalize on our growth platforms and an increase in regulatory and clinical expenses primarily due to an increase in third-party TRO cost associated with increased clinical trial and FDA related activities. These increases were partially offset by a reduction in product development expenses and share-based compensation expense. Adjusted EBITDA for the first quarter of 2010 was a loss of approximately $250,000 as compared to with earnings of approximately $600,000 for the first quarter of 2009 and a loss sequentially for the fourth quarter of 2009 of approximately $200,000. Turning to earnings per share. First quarter 2010 loss per share was $0.13 as compared to an adjusted non-GAAP loss per share, which again excludes the goodwill impairment of $0.08 for the first quarter of 2009. The increased net loss per share is due to increased operating expenses and interest associated with borrowings on our credit facility, which was put in place during the second quarter of 2009. In terms of the balance sheet and cash, we ended the quarter with $11.8 million in cash, cash equivalents and investments and we had $4.6 million in gross debt outstanding under our credit facility. Neutralizing the impact of our initial $525,000 payment to the Department of Justice, our cash used in operations was consistent with the first quarter of 2009. At this point, I would like to turn the call back to Dave.

Thank you, Julie. In terms of outlook, we believe that our strategy of aligning targeted investments in our sales and marketing organization with new products and increasing business momentum is resulting in market share gains, review our hybrid approach as a game-changing opportunity, and expect that medical centers will begin adopting the hybrid procedure as a standard of care for persistent patients and patients that have failed catheter ablation procedures. We are anticipating that these strategic initiatives will result in higher growth trends during the second half of 2010 and further acceleration in 2011, which should be strengthened by the anticipated launch of our AtriClip system. In terms of the second quarter, we anticipate that revenues will be relatively consistent with the first quarter primarily as a result of transitioning one of our largest European distributors to a direct selling model. We anticipate a modest increase in operating expense for the second quarter driven by clinical research and product initiatives. The management team at AtriCure understands the opportunities and challenges, and we are passionate about executing the vision that we have for the company moving forward. Finally, the men and women of AtriCure remain inspired and united by our mission and confident in the power of our strategic plan. We believe that AtriCure is well positioned to deliver results for patients, customers and shareholders. We will now open the call for your questions.

Thank you. (Operator instructions) And your first question comes from the line of Matt Dolan. Please proceed. Matt Dolan – Roth Capital Partners: Hi, Dave and Julie, good afternoon.

Hi, Matt.

Good afternoon, Matt. Matt Dolan – Roth Capital Partners: Couple questions, Dave. First on growth, it has been one of your primary initiatives. You outlined kind of the progression here into the back half of the year. I mean, what should we be thinking about in terms of real achievable growth rate for this business over the course of the next couple years? We’ve talked about inflection points a lot in the past. But what type of opportunity do you look at?

Certainly, in terms of growth rates, I’d rather focus on the opportunities that we have. We have certainly a significant opportunity just in terms of coming back and strengthening our sales organization. We did below 50. We’re now at 55 US reps and we have a stronger and more expanded international presence. So I think if you look at our business segments, the open business is stronger. It grew 7% on a sequential basis. Although minimally invasive was down, we believe that minimally invasive will be up in the second half of the year and that we have significant momentum that we will begin to demonstrate that during the second half of the year and certainly throughout 2011. And although the AtriClip system has been pushed back to the first quarter of 2011, we think that’s still a significant growth catalyst. And we look at the international markets growing at 27%. So we think each of our business segments is showing performance and beginning to demonstrate significant traction. In terms of qualitative information, I’d rather hold off until we are prepared to give more context and potentially reinstate guidance. Matt Dolan – Roth Capital Partners: Okay. That’s fair enough. And then on the MIS business, now that you have the DEEP AF approval, how do you – are you seeing maybe some type of slowdown there as centers maybe ramp up their hybrid programs? And is it not why this kicks in later on? Or how does that dynamic play out for your MIS business?

I think that’s exactly right. I actually just talked to a physician that – in our clinical trial who had several patients that they were going to send for minimally invasive but they are holding off for potentially seeing DEEP AF depending upon how quickly they can get to the IRB in contracting process. So we certainly saw that the centers that we are transitioning and training and trying to come up to speed either because they were just adopting the approach or because they were participating in the trial, there was a lag in terms of procedures to try to build up a sample size so that they could do some run-in procedures and get more comfortable with the approach. Matt Dolan – Roth Capital Partners: Okay, great. And then you had an acquisition here recently of ATS, and can you maybe just talk a little bit about your ability to gain share, what your competitive dynamic might look like the cryo side of the world?

We think it looks very good. We think there are certainly short-term and long-term advantages. Certainly in the short-term, while people are reorganizing, we think that’s an advantage. But most of all, we’ve moved the market to two competitors. There aren’t many really high growth, high potential market where there are just really two serious competitors. We think that that’s a major advantage. And also when ATS acquired – when Medtronic acquired ATS, there is certainly intellectual property involved, but they have got a new mechanical valve, they’ve got a fair cardio valve, the additional valve technology and their valve business we think is going to distract – potentially distract their product valve reps from focusing on ablation. And the ablation technology is relatively complicated. And we are laser focused. So the fact that we have two companies versus three and the concept that Medtronic possibly could be diluted based on what’s happening in the heart valve business, both in terms of tissue valves and the movement to transapical and trans-endovascular valves. We think there is a significant opportunity that AtriCure will be the one company that’s laser focused and continues to be the market innovator and leader. Matt Dolan – Roth Capital Partners: Okay. Last one, just on the regulatory issues you are facing. Is this something you can ascribe the arrhythmia management market or is this is a broader issue of regulatory reform that you are seeing? I just kind of want to get your thoughts on how you are contemplating approval timelines going forward and from what seems to be a new environment here.

I think you characterized it well. It’s a new environment. I think we’re beginning to understand the environment. AtriCure has a lot of projects for a company of our size. Multiple clinical trials, multiple product releases on a yearly basis. So we’ve got a lot of activity with FDA. And all of that interaction with FDA has shifted in terms of the process to get our products approved. So we – I think over the last several months, we have developed a much clearer understanding of what the requirements are so that we can move expeditiously to change our systems to meet the requirements. And I believe that the companies that do that will be able to minimize the challenges that all of us are having with FDA right now in terms of their more rigorous approach to approving products. Matt Dolan – Roth Capital Partners: Great. Thanks, Dave and Julie.

Thanks.

Thank you.

Your next question comes from the line of Timothy Lee with Piper Jaffray. Please proceed. Timothy Lee – Piper Jaffray: Hi, guys, good afternoon and thanks for taking the question.

Hey, Tim. Timothy Lee – Piper Jaffray: Just a couple on the hybrid procedure side, any sense as to how many centers have started adopting this technology for this technique, I guess more for the technology itself?

Yes. I think by the end of the second quarter, there will be 15, maybe 16 centers, or could be close to the 20 that will perform hybrid procedures in the US. Timothy Lee – Piper Jaffray: In terms of the reimbursement for these procedures, there is a surgeon involved and the electrophysiologist. I mean, are they each getting a professional fee? Are they splitting the fee or how is that working out?

Certainly, our procedures are not a new contest. So the hospital basically has the same DRG in place that they would for a minimally invasive sole therapy procedure. And the EP, the codes are the same that they were used for an AF ablation, and the surgical code for the cardiac surgeon is the same. So the physicians have the same reimbursement, comparable reimbursement and the hospital hast the upgraded surgical DRG. Timothy Lee – Piper Jaffray: Okay. So again there has been no issue on the reimbursement sided then, it sounds like.

We haven’t run into reimbursement issues. We’ve obviously – we are in the early stages and we have the small sample of, as I said, somewhere in the range of 50, the counts moving to likely 20 by the end of the quarter and a relatively small number of procedures. But we haven’t been challenged, to my knowledge, on the reimbursement side, and I paid really close attention to that. Timothy Lee – Piper Jaffray: Okay, thank you. And just in terms of your revenue growth for this quarter, it was a little less than what we were looking for. Do you ascribe as the market is still taking a little bit of a pause here or did you guys see some ground in the quarter?

I think we see the ground. I think we’ve –once again, I wouldn’t underestimate the sales organization. We obviously need to have a strong sales team. And if you look at last year, EBITDA was $1.6 million, a $7.2 million improvement. I think sometimes people underestimate the job that we did last year on to the circumstances and considering our priorities of preserving our cash and capital structure. Moving into 2010, we really need to rebuild our sales organization. And again, we started to do that in the fourth quarter and 2009. We now have 55 US sales representatives and have a few additional adds in the international markets. It takes a few quarters for people to get up and gain some traction, but I think that’s a very positive step. We had 7% growth in the open market, which, yes, you can contribute a lot of that to the cryo system. But think the larger contribution is the fact that we have RF and cryo that we have the widest range of products. I think that’s a significant factor. And on the MIS side, I do think that we are in a bit of a transition phase, which resulted in maybe a lower revenue number for the first quarter. But we believe that going forward our revenue will adjust and that we will see growth on the minimally invasive side of the business. Timothy Lee – Piper Jaffray: Got it. Thank you. I’ll jump back in queue.

Thanks, Tim.

Your next question comes from the line of Jason Mills. Please proceed. Jamar Ismail – Canaccord Adams: Hi, this is Jamar Ismail for Jason. I have a few questions. First, can you go over what you think procedure growth were for the quarter? I know you thought minimally invasive procedures were down for you a little bit. Can you just talk about the overall market both in minimally invasive and open heart and what you think about procedure growth going forward?

I think first of all, we’re driving procedure growth rate now on the minimally invasive side. We believe well in excess of 70% share. I think procedure growth for us in terms of sequential procedure growth actually really wasn’t very different. It was fairly consistent. And on a year-over-year basis, we were up 7%. So the 3.9 number versus 4.2 number, some of that is just cycling and not really a reflection of numbers of procedures, although we think again the procedure opportunity for growth and revenue opportunity going forward is meaningful. In terms of procedure growth of minimally invasive, it will happen over time. I don’t want to over-project the timeframe. We believe that there will be incremental growth on the minimally invasive side. The hybrid programs are not insignificant in terms of the work involved in getting a hybrid program up. There is training issues from the procedural side, but there is significant workflow issues, there is logistic issues. It’s not an insignificant process. So it takes time to get a hybrid program up and running. So I don’t want to underestimate that. And also you need a very talented surgeon to develop a hybrid program. So there are very significant opportunities and certain challenges that we have to monitor. So I think it will be a relatively slower growth trend initially, and I think we’ll hit an inflection point once we have 30 or 40 centers that are really up and running and people that are really highly motivated to get trained. I think adoption will [ph] increase and move more quickly. In the open business, we’re seeing an increase in procedures at AtriCure. We believe that our share gains are based on procedural gains. I think the market is still 30% penetrated and should be 70%…

Well, I would think that we would begin to see leverage coming back to the model in mid-2011. We get the clip to market. Hopefully, physicians begin to adopt the hybrid procedure at the rates that we think they will. We have expansion and continued strong growth in the international markets. We have reached a level of sales from that in terms of just sales headcount that we think is indicative and appropriate considering the circumstances. And we would anticipate that we’ll begin to see leverage return during mid-year 2011. Jamar Ismail – Canaccord Adams: Okay. One more, it’s in terms of gross margin. Where do you see gross margin going from here and with the increased OUS sales in the second half and even the clip band put a little bit back? Where do you see gross margin compared to this quarter?

Yes. We previously have said we expect gross margins to be in a range of 74% to 77%. And for 2010, I think that’s still a good range for us to operate in. Jamar Ismail – Canaccord Adams: Okay, thanks a lot.

Thank you.

Thanks, Jamar.

Your next question comes from the line of Larry Haimovitch with HMTC. Please proceed. Larry Haimovitch – HMTC: Hi, Dave. Hi, Julie.

Hey, Larry. Larry Haimovitch – HMTC: Couple of questions – some of the questions that I had were already asked. So I just want to understand the FDA situation. Did I understand on the clip you’ve done a European human trial, you’ve done a US human trial, both of which had good results, and now the FDA is reviewing the animal data? Did I get that right?

Correct. They are reviewing the animal data from our March 2007 submission. So one of the angst that we have and it’s just part of living in the medical device world is if there were concerns about our animal data, we’ve submitted that in March of 2007, it would have been nice to have gotten that feedback at that time, but that wasn’t the case. Larry Haimovitch – HMTC: Well, from my standpoint, what’s more disconcerting here is that you’ve got good human data. I mean, after all, we’re going to be putting this equipment in people, not animals I believe. So it just seems pretty ridiculous. What about the ABLATE trial? I wanted to understand exactly – could you elaborate or reiterate the issue that’s going on with the ABLATE trial there? I didn’t quite understand what the issue was.

Well, first of all, on October 2009, we had a pre-PMA meeting with our FDA review team. And the FDA review team wedded the ABLATE clinical trial with us and they made a commitment to come back to us. We came to what we thought was an understanding that we would submit the final module of our PMA module, the clinical module in the first half of 2010. And the module was written and ready to be submitted. In the meantime, we – there was a shift and we were given a new review team. The new review team when we call them to give them – alert them that they would be – that we would be sending in our final module, they wanted to step back and take a second, look, whether or not we should submit the module as it is and then submit the continued access protocol so we’ll have additional data at the panel meeting for whether or not we should wait to submit the module and submit continued access data with the module. So, is that clear, Larry? Larry Haimovitch – HMTC: So basically they are telling you to not – they are not sure if they want to see the human data yet, the clinical data for all your [ph] data yet. Is that –?

Right. The first review team said – our understanding anyway was submit the module and then run a continued access protocol for a support of data at the panel meeting. That was our understanding. When we shifted reviewers, the new review team thought that they would like to see the continued access protocol and patients from that protocol combined with the ABLATE data into one module and submit the one module. And – Larry Haimovitch – HMTC: Okay. So when do you finish enrolling the access patients?

Well, we had a – after we had that discussion with FDA, we immediately requested an in-person meeting. Larry Haimovitch – HMTC: Okay. That’s what you talked about, yes.

We had an in-person meeting that included the division head of cardiovascular devices and the entire review team, our expert consultant statistician, our regulatory consultants, and some of our internal management group. We were able, I think, to talk to them why ABLATE with 55 patients, why the statistical argument is a strong argument in terms of the Bayesian statistics. And that was the sanctioned protocol that FDA put in place with us in 2007. So I think we strengthened our position with the ABLATE data by going through the statistics with an expert. At the same time, we talked about different ways of adding to the body of clinical evidence for the ABLATE trial besides waiting for the continued access study. And we did one 39-patient trial called the RESTORE. That’s our true trial here at AtriCure. We enrolled 39 patients, but we couldn’t complete the trial. It was just too difficult to enroll. That’s when we went back to FDA and renegotiated the clinical trial – the ABLATE clinical trial. So we’re in a position now where we went back to FDA and said, look, we really don’t want to wait. We don’t think that that’s necessarily fair to wait and collect the continued access data. We’d really rather give you other clinical data that would satisfy your need for developing a broader body of clinical data to confirm the ABLATE conclusions and do that in one module and then potentially use the continued access protocol, potentially as a post-surveillance protocol. Larry Haimovitch – HMTC: Dave, my takeaway from what you just said is the real question might just be that FDA is thinking that 55 patients may not be enough.

That is clearly the case. Larry Haimovitch – HMTC: Okay, good. Okay. Whereas in the past they had agreed that based on a good Bayesian analysis it would be okay. Now they are basically saying, well, we’re not so sure now?

That’s right. And what we’re saying is we had a plan with one review team. The plan changed, and that’s okay. But rather than waiting for the continued access data, we want to propose certain alternatives to that so that we can give them a greater body of evidence. More patients that were done maybe outside of that protocol, but that adds affirmation and support the ABLATE data so that we can submit the module and move forward with the PMA process. Larry Haimovitch – HMTC: Right. And so that’s all under debate right now?

That’s under debate right now. However, we’re moving quickly with the FDA. Again, we had the first meeting on April 30th and that was really only about a week-and-a-half after we had the first discussion with them when we began to understand that we had some potential differences. Larry Haimovitch – HMTC: Okay. That’s great, Dave. Sorry. Did you want to say something else? I’m sorry, I didn’t interrupt you.

No, no. I just think that we will have the second meeting with them fairly soon and should be able to clarify our path going forward in the near-term. Larry Haimovitch – HMTC: Okay. Thanks, Dave.

You’re welcome, Larry.

(Operator instructions) Your next question comes from the line of Timothy Lee with Piper Jaffray. Please proceed. Timothy Lee – Piper Jaffray: Hi, thanks for taking the follow-ups. A quick balance sheet question. Looks like your receivables ticked up sequentially on a year-over-year basis from a DSO standpoint. Anything there that we should be keeping an eye on?

No. It really, Tim, was due to timing of the revenue stream. It was different this quarter than it was last year’s first quarter. And then we also had a large order that occurred at the end of 2009 that it’s still outstanding. And that was another driver of that component, but nothing is from a collectability or a risk perspective. Our DSO is actually consistent and continues to come down modestly. Timothy Lee – Piper Jaffray: Got it. And then in the Q [ph], as you shift that European distributor to a more direct model, does that impact any receivables or anything that we should just keep an eye on, just a note or is there anything on that?

No, I don’t expect much of an impact at all on the receivable side. Timothy Lee – Piper Jaffray: Okay. That’s all I had. Thank you.

Thanks, Tim.

Your final question comes from the line of Charley Jones. Please proceed. Charley Jones – Barrington Research: Hi, thanks. Just a couple quick items here, Julie. What do you think – how do you think moving to a direct model will affect your gross margins?

I think we’d see a modest uptick in sort of that market obviously gross margin will go from the distributor margins to the manufacturer margins. But again, as we anticipate higher growth from the international markets, that will be met to some extent on a consolidated basis. But we expect our margins to still stay on a consolidated, kind of 74% to 77%. Charley Jones – Barrington Research: Okay. And it should have some kick-up in revenue over the long-term because you are getting higher transfer price?

We would. We would get modest kick-up in revenue also. Charley Jones – Barrington Research: Same modest, I guess I would think 20%, 30% higher?

Yes, I think in that ballpark for that region. Charley Jones – Barrington Research: Okay. And I guess the final question is in relationship to all the conversations with the FDA, Dave. Would you say in some ways things are more positive than they have been in the past because of the amount of dialog you have and the reviewer that you have and their involvement here, or do you really feel like you’ve been sucker punched here?

No, I believe that the FDA obviously is changing. The processes and requirements are rigorous. Sometimes dealing with the changes can be challenging, but we are in control of those changes. We understand very specifically what we need to do to get the EXCLUDE product out to market. We will understand very specifically what we need to do for ABLATE, and we will resource ABLATE and execute the plan that we agree with FDA. So I think we understand what needs to happen. We just need to be very interactive with the FDA considering the circumstances on each of our projects, develop a plan, and move quickly to execution. And management is in the process of doing that. So we feel like the circumstances have shifted a little bit, but we are in control of process. Charley Jones – Barrington Research: I guess it’s a little surprising how quickly some of the meetings have been set up with FDA and it sounds like you have a pretty quick follow-up meeting. So I guess I just want to be careful not to read in too much positive – too much positivity into this. But it does appear to me that the speed at which they are moving here is different than the speed at which they have been moving for everything else as far as trying to get you guys shot up here.

We are very engaged in every project, and FDA has been very communicable with us. We feel like we have a good cooperative effort and we are going to cooperate and work to develop a plan, and we’ll execute those plans. We’re extremely good at execution. Again, we feel like we’re in control with circumstances. It’s just a matter of staying with it and seeing it through. Charley Jones – Barrington Research: Final question. How do you feel about the balance sheet? Is it – Julie, are you comfortable with it? And should you get a little bit of cash pick up in the back half of the year as you typically do?

Yes, that’s exactly – we’re expecting similar trending based on our current visibility, similar trending to 2010 with maybe a slightly incremental usage just because we no longer have access to some grant money for some CapEx that we have in prior years. So I do feel good about the balance sheet and our current general cash position. Charley Jones – Barrington Research: Great. Thanks a lot for the questions.

Thanks, Charley.

This concludes the question-and-answer session. I’ll now hand the call back over to David Drachman. Please proceed.

Thank you very much. We look forward to talking to you on the next earnings call. I would just like to say that we very much appreciate your support. We understand the opportunities and challenges, and we’re very committed to a successful AtriCure. Thank you very much.

Thank you.

Ladies and gentlemen, that concludes today’s conference. Thank you for your participation. You may now disconnect and have a great day.