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Osteotech Reports 2007 Full Year and Fourth Quarter Financial Results; Full Year Revenue of $104.3 Million Exceeds $100 Million Milestone; Diluted Earnings Per Share Was $.15 in 2007
Date:2/20/2008

EATONTOWN, N.J., Feb. 20 /PRNewswire-FirstCall/ -- Osteotech, Inc. (Nasdaq: OSTE), a leader in the emerging field of biologic solutions for regenerative medicine, announced today that total revenue for the year ending December 31, 2007 increased 5% to $104.3 million compared to $99.2 million for the year ended December 31, 2006. Revenue from "core" product lines, DBM and Hybrid/Synthetic products, was $67.6 million for full year 2007, an increase of 15% over core product revenue of $58.8 million in the prior year. Gross margin improved to 51.5% for the year ended December 31, 2007 compared to 48.2% in the same period in 2006.

Diluted earnings per share for the year ended December 31, 2007 was $.15 on net income of $2.6 million as compared to diluted earnings per share of $.11 for full year 2006 on net income of $1.9 million.

Sam Owusu-Akyaw, Osteotech's President and Chief Executive Officer, stated, "It was a tremendous achievement and an important milestone in Osteotech's history to exceed $100 million in revenue. The world-wide Osteotech family contributed to this success and each member of the Osteotech team is proud of this accomplishment."

Mr. Owusu-Akyaw continued, "Our key financial metrics continue to demonstrate disciplined execution of our business plan. Our core products continue to grow while gross margin and profitability continue to improve. Our cash flow is strong and will allow us to support future growth. Our new product pipeline is solid, which we expect will increase our product offerings and is expected to be the major contributor to our growth."

Mr. Owusu-Akyaw concluded, "Just as Osteotech's pioneering tissue processing technology advanced the industry in the 1990's, Osteotech is developin
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SOURCE Osteotech, Inc.
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