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

1, 2009 was $1.8 million, or $0.10 per diluted share, compared with net income of $808,000, or $0.05 per diluted share, for the first quarter of 2008.

"Looking ahead, we are well positioned to launch or unveil MagniFuse, Plexur M, DuraTech and Facetlinx(TM) Facet Fusion Graft, our procedure-specific spine product, and we believe we are taking the steps necessary, particularly within our sales distribution network, to encourage demand," continued Mr. Owusu-Akyaw. "Based upon the investments we have made in our business and the emerging trends in orthopedics, we believe we are well positioned to emerge as a leader in the industry. We believe our proprietary technology platforms and research and development capabilities provide us with a technology lead that will be difficult to penetrate. We remain focused on increasing shareholder value and believe that the potential for sustainable, profitable revenue growth will allow us to reach our goal of providing significant returns to all of our stakeholders."

Guidance

Based upon the results achieved to date, Osteotech is reiterating the financial guidance it has previously established for 2009:

  • Overall revenue is expected to range between $96 million and $100 million;
  • Net loss for 2009 is expected to be between $0.05 and $0.07 per share; the Company remains on track to generate free cash flow from operations in 2009; and
  • The Company expects to exit 2009 with approximately $15 million in cash.

Conference Call Tomorrow, May 1, 2009

The Osteotech management team will host a conference call on May 1, 2009 at 9:00 a.m. (EDT) to discuss first quarter 2009 financial results, recent corporate developments and guidance for 2009. The conference call may be accessed by dialing 1-866-783-2141 (domestic) or 1-857-350-1600 (international) and indica
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SOURCE Osteotech, Inc.
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