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Cardiogenesis Reports Third Quarter 2008 Results
Date:11/13/2008

NSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

Three months ended Nine months ended

September 30, September 30,

2008 2007 2008 2007

Net revenues $2,618 $3,486 $9,719 $9,292

Cost of revenues 474 739 1,589 1,913

Gross profit 2,144 2,747 8,130 7,379

Operating expenses:

Research and development 165 103 633 612

Sales and marketing 1,536 1,246 4,858 3,268

General and administrative 753 719 2,404 2,611

Total operating expenses 2,454 2,068 7,895 6,491

Operating (loss) income (310) 679 235 888

Other income (expense):

Interest expense (1) (10) (22) (59)

Interest income 13 29 55 94

Non-cash interest expense -- (13) -- (89)

Change in fair value of

derivatives -- (133) -- (323)

Other non-cash income, net -- 38 -- 151

Total other income (expense), net 12 (89) 33 (226)

(Loss) income before

income taxes (298) 590 268 662

Tax provision 10 -- 10 --

Net (loss) income $(308) $590 $258 $662

Net (loss) earnings per share:

Basic $(0.01) $0.01 $0.01 $0.01

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SOURCE Cardiogenesis Corporation
Copyright©2008 PR Newswire.
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