- 4th Quarter revenues of $22.0M increased 29% and adjusted EPS* of $0.35
increased 218% - - Total Fiscal Year Revenues of $79.8M increased 15% and adjusted EPS* of
$0.99 increased 87% -
EXTON, Pa., Aug. 21 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY) today reported the results for its fourth quarter and fiscal year ended June 30, 2008.
Fourth Quarter Results
Revenues: Sales and Royalties. Total revenues increased 29% to a record level of $22.0 million in the Company's fourth fiscal quarter ended June 30, 2008, from $17.0 million in the comparable prior year period.
Net sales increased 42% to $15.0 million from $10.5 million in the fourth quarter of fiscal 2007. Net sales of biomaterials products increased 37% to $13.3 million from $9.7 million in the comparable prior year period due to strong sales in both orthopaedic and cardiovascular product lines. Orthopaedic sales increased 39% to $8.4 million from $6.0 million in the prior year period, primarily due to increased sales of products in the Company's sports medicine and spine product portfolios. Cardiovascular sales of $4.2 million, consisting primarily of sales of vascular closure product components to St. Jude Medical, increased 29%, from $3.2 million in the prior year period.
Sales of endovascular products during the quarter increased 103% to
$1.6 million from $806,000 in the prior year period. Endovascular sales
included direct sales to customers for the months of April and May, as well
as sales of product to Spectranetics Corporation (Nasdaq:
|SOURCE Kensey Nash Corporation|
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