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Bacterin Announces Record 2011 Revenue of $30.1 Million; Up 96% Year-over-Year
Date:3/22/2012

increased production.

Operating expenses for the quarter totaled $6.7 million, as compared to $7.8 million in the previous quarter, and $7.1 million in the fourth quarter of 2010. Operating loss for the quarter was $2.7 million, compared to $1.6 million in the previous quarter, and $3.4 million in the fourth quarter of 2010. Net loss was $4.4 million or $(0.11) per basic share for the quarter. This compares to a net loss of $3.2 million or $(0.08) per basic share  in the previous quarter, and a net loss in fourth quarter of 2010 of $6.7 million or $(0.18) per basic share.

Cash and cash equivalents and net accounts receivable was $7.8 million at December 31, 2011, compared to a total of $3.8 million at December 31, 2010.

Full Year Financial ResultsRevenue for the year ended December 31, 2011 was a record $30.1 million, up 96%, compared to $15.4 million for the full year in 2010. Gross profit margin was 70%, compared to 78% in the previous year. Excluding the cost of sales adjustments, FY 2011 gross margin would have been 74% of sales. Operating expenses for the year totaled $27.5 million, compared to $20.7 million in the previous year. Operating loss for the year was $6.5 million, compared to $8.6 million in the previous year. Net loss was $3.0 million or $(0.08) per basic share for the year. This compares to a net loss of $19.5 million or $(0.61) per basic share for the previous year.

EBITDA for the year totaled a loss of $3.0 million, compared EBITDA loss of $5.8 million in 2010. Conference Call Details:Date: Thursday, March 22, 2012Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)Dial-In Number: 1-877-941-1427International: 1-480-629-9664Conference ID#: 4519974The conference call will be broadcast simultaneously and available for replay here and at the investor section of the company's Web site at

SOURCE Bacterin International, Inc.
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