RANCHO CORDOVA, Calif., Nov. 5 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products for processing and storing adult stem cells, today reported results for the first quarter of fiscal 2010.
For the quarter ended September 30, 2009, the Company reported revenues of $5.2 million, a 15 percent increase over revenues of $4.5 million in the first quarter a year ago. The Company said the key contributors to the growth in revenues included an increase of approximately $0.5 million, or 40%, in sales of AXP(TM) AutoXpress(TM) (AXP(TM)) disposables over the prior year quarter and new product sales of the MarrowXpress(TM) (MXP(TM)) and Res-Q(TM)60 BMC (Res-Q) Systems.
Total disposable revenues in the first quarter of fiscal 2010 increased over 40% to $3.0 million versus $2.1 million in the first quarter of fiscal 2009.
The Company reported an 18% reduction in its net loss to $2.2 million, or $0.04 per share, in the first quarter of fiscal 2010, versus a net loss of $2.7 million, or $0.05 per share, in the same period of fiscal 2009. ThermoGenesis ended the first quarter of fiscal 2010 with $13.1 million in cash and short-term investments, compared with $15.6 million at the end of fiscal 2009.
"We are pleased with the direction of the leading indicators of our quarterly performance, including revenue growth, an improved bottom line and the success of our new products, the MXP and Res-Q Systems, in generating promising new revenues," noted J. Melville Engle, Chief Executive Officer of ThermoGenesis. "We are now on track to turning this business around and I remain optimistic we will achieve break even in the third quarter and profitability in the fourth quarter of fiscal 2010."
"We are particularly encouraged by the initial market experience of the MXP
|SOURCE ThermoGenesis Corp.|
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