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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

d $2.9 million in the third quarter of 2008 and 2007, respectively. International BioGlue revenues were $10.7 million and $9.0 million in the first nine months of 2008 and 2007, respectively.

Other medical device revenues for the third quarter of 2008 were $616,000 compared to $265,000 in the third quarter of 2007. Other medical device revenues for the first nine months of 2008 were $1.0 million compared to $723,000 in the first nine months of 2007. Other medical device revenues in the three and nine months ended September 30, 2008 included $549,000 and $726,000, respectively, in sales of Hemostase MPH(R), which was added to the CryoLife product portfolio in the second quarter of 2008.

Total product and tissue processing gross margins were 64 percent in the third quarter of 2008 compared to 63 percent in the third quarter of 2007. Total product and tissue processing gross margins were 64 percent in the first nine months of 2008 compared to 61 percent in the first nine months of 2007.

Tissue processing gross margins in the third quarter of 2008 were 46 percent compared to 42 percent in the third quarter of 2007. Tissue processing gross margins in the first nine months of 2008 were 46 percent compared to 41 percent in the first nine months of 2007. Tissue processing gross margins improved in 2008 compared to 2007 primarily as a result of fee increases and a favorable tissue mix in 2008.

General, administrative, and marketing expenses in the third quarter of 2008 were $12.1 million compared to $11.2 million in the third quarter of 2007. General, administrative, and marketing expenses in the first nine months of 2008 were $36.5 million compared to $34.4 million in the first nine months of 2007.

The increase in general, administrative, and marketing expenses for the three and nine months ended September 30, 2008 was primarily due to increased marketing expenses. These expenses included personnel costs, corporate advertising, and promoti
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SOURCE CryoLife, Inc.
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