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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

in tissue processing revenues was due primarily to increased demand for the Company's cardiac and vascular processed tissues, the introduction of the CryoValve(R) SG pulmonary human heart valve and, to a lesser extent, price increases, partially offset by a decline in orthopaedic tissue processing revenues.

Combined cardiac and vascular tissue processing revenues in the third quarter of 2008 increased 31 percent to $14.2 million compared to $10.8 million in the third quarter of 2007. Combined cardiac and vascular tissue processing revenues in the first nine months of 2008 increased 26 percent to $40.7 million compared to $32.4 million in the first nine months of 2007.

Revenues from the distribution of CryoValve SG pulmonary human heart valves were $1.7 million and $3.4 million, respectively, for the three and nine months ended September 30, 2008.

Orthopaedic tissue processing revenues in the third quarter of 2008 decreased to $38,000 from $566,000 in the third quarter of 2007. Orthopaedic tissue processing revenues in the first nine months of 2008 decreased to $662,000 from $3.7 million in the first nine months of 2007. These revenue declines were anticipated as the Company discontinued procuring and processing orthopaedic tissue in January of 2007 pursuant to the exchange and service agreement signed with a third party in December 2006.

BioGlue(R) Surgical Adhesive revenues were $11.6 million for the third quarter of 2008 compared to $10.3 million in the third quarter of 2007, an increase of 13 percent. BioGlue revenues were $36.5 million for the first nine months of 2008 compared to $32.4 million for the first nine months of 2007, an increase of 13 percent.

U.S. BioGlue revenues were $8.1 million and $7.4 million in the third quarter of 2008 and 2007, respectively. U.S. BioGlue revenues were $25.8 million and $23.4 million in the first nine months of 2008 and 2007, respectively. International BioGlue revenues were $3.5 million an
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SOURCE CryoLife, Inc.
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