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Osteotech Reports First Quarter 2009 Financial Results
Date:4/30/2009

Company Reiterates 2009 Guidance and Remains on Track for Four Product Launches and Unveilings in 2009

Call on May 1, 2009 at 9:00 a.m. EDT

EATONTOWN, N.J., April 30 /PRNewswire-FirstCall/ -- Osteotech, Inc. (Nasdaq: OSTE), a leader in the emerging field of biologic products for regenerative healing, today reported financial results for the quarter ended March 31, 2009.

"During the first quarter, we continued to make MEANINGFUL progress executing our corporate strategy to position Osteotech as the leading provider of procedure-specific biologics for the orthopedic industry," said Sam Owusu-Akyaw, President and Chief Executive Officer of Osteotech. "Three years ago, we began to make long-term investments based upon the premise that biologics would become key components of effective bone healing and the restoration of normal body function. With those investments, we believed that Osteotech, with its proprietary technology platforms, would begin to introduce best-in-class therapeutic solutions. We have begun to see tangible and anecdotal evidence that our assumptions were correct. To capitalize on this growing interest and opportunity, we have several upcoming product launches and unveilings from our technology platforms and have introduced a variety of innovative sales tools and educational forums to drive sales growth. We remain encouraged by our progress and believe that we are well on our way to achieving our 2009 goals that should position us for profitable revenue growth in 2010."

Recent 2009 Corporate Developments

  • At the Annual Meeting of the American Academy of Orthopedic Surgeons in February 2009, Osteotech hosted a technology suite to disseminate the results of its clinical research supporting the versatility of Plexur P(R) and the biologic'
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SOURCE Osteotech, Inc.
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Related biology technology :

1. Osteotech to Present at Roth Capital Partners 2007 New York Investor Conference
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3. Osteotech Announces Fourth Quarter and Full Year Earnings Release and Conference Call Schedule
4. 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
5. Osteotech to Present at the Canaccord Adams Small-Cap Orthopedics Conference in San Francisco
6. Osteotech Receives FDA Clearance for Plexur M(TM) Biocomposite
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10. Osteotech Renews Tissue Recovery Agreement with the Euro Atlantic Transplant Alliance
11. Osteotechs Plexur P(TM) Receives FDA Clearance as Bone Void Filler and Bone Graft Extender in Spine
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