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CryoLife's Fully Diluted Earnings Per Share Increased 71 Percent to $0.12 in Third quarter of 2008 from $0.07 in Third quarter of 2007
Date:10/30/2008

Revenues increased 21 percent in third quarter of 2008 versus third quarter

of 2007

ATLANTA, Oct. 30 /PRNewswire-FirstCall/ -- CryoLife, Inc. (NYSE: CRY), a biomaterials, medical device and tissue processing company, announced today that revenues for the third quarter of 2008 increased 21 percent to $26.8 million compared to $22.2 million in the third quarter of 2007. Excluding orthopaedic tissue processing revenues of $38,000 and $566,000 in the third quarters of 2008 and 2007, respectively, total revenues increased 24 percent for the third quarter of 2008.

Net income in the third quarter of 2008 was $3.6 million, or $0.13 per basic and $0.12 per fully diluted common share, compared to $1.9 million, or $0.07 per basic and fully diluted common share in the third quarter of 2007.

Revenues for the first nine months of 2008 increased 14 percent to $79.5 million compared to $69.7 million in the first nine months of 2007. Excluding orthopaedic tissue processing revenues of $662,000 and $3.7 million in the first nine months of 2008 and 2007, respectively, total revenues increased 19 percent for the first nine months of 2008.

Net income in the first nine months of 2008 was $10.2 million, or $0.37 per basic and $0.36 per fully diluted common share, compared to $4.6 million, or $0.17 per basic and $0.16 per fully diluted common share in the first nine months of 2007.

Tissue processing revenues in the third quarter of 2008 increased 25 percent to $14.2 million compared to $11.3 million in the third quarter of 2007. Tissue processing revenues in the first nine months of 2008 increased 15 percent to $41.3 million compared to $36.0 million in the first nine months of 2007. The increase
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SOURCE CryoLife, Inc.
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