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Kensey Nash Reports Strong Second Quarter and First Six Month Fiscal Year 2009 Results
Date:1/28/2009

Second quarter EPS of $0.44 -- increase of 110% from prior year

EXTON, Pa., Jan. 28 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY), a leading medical technology company that provides innovative solutions and technologies for a wide range of medical procedures, today reported the results for its second quarter and first six months of fiscal year 2009.

Second Quarter Highlights

  • Record EPS of $0.44, representing an increase of 110% from second quarter of prior fiscal year and exceeding previous guidance of $0.40-$0.42.
  • EBITDA of $9.3 million, representing an increase of 73% from second quarter of prior fiscal year.
  • Operating margin of 37%.
  • Operating cash flow of $4.7 million.
  • Biomaterial product sales of $13.1 million, representing an increase of 14% from second quarter of prior fiscal year.
  • Orthopaedic royalties of $1.4 million, representing an increase of 28% from second quarter of prior fiscal year.
  • Completed cartilage preclinical studies; IDE submission for US trial expected in March 2009.
  • Accomplished the first milestone under the Spectranetics Research and Development Agreement, completing the development of the next generation Safe-Cross(R) System, which resulted in a $1 million payment to the Company.

First Six Months Highlights

  • EPS of $0.87, representing an increase of 142% and 358% from prior fiscal year period earnings per share as adjusted* and as reported, respectively.
  • EBITDA of $19.0 million, representing an increase of 92% from prior fiscal year period adjusted EBITDA* (188% from prior fiscal year period EBITDA unadjusted).
  • Operating cash flow
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SOURCE Kensey Nash Corporation
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