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ThermoGenesis Reports Record Quarterly Revenues of $7.2 Million; Full Year Revenues Increase 31 Percent
Date:9/9/2008

ng products focused initially on

the equine market.

-- Improving the performance of the Company's wound care business.

-- Initiating the development of a new point-of-care stem cell processing

platform to complement our MXP offering.

-- Initiating discussions with potential partners in regenerative medicine

and networking with key opinion leaders in the use of stem cells for

treating orthopedic, vascular, and cardiac diseases in addition to

plastic surgery applications.

-- Implementing a corporate rebranding and marketing awareness program.

-- Enhancing the management team and board of directors.

"Because of our accomplishments over the past year, ThermoGenesis is well positioned to achieve a ramp in growth and increase its presence in key areas of regenerative medicine. In addition to implementing programs that are designed to expand our cord blood business, we have a number of product and market development initiatives underway that we expect will begin to contribute initial revenues from new stem cell markets during the current fiscal year," Osgood commented.

For all of fiscal 2008, ThermoGenesis reported revenues of $21.9 million, a 31 percent increase over revenues of $16.8 million in fiscal 2007. The Company reported a net loss of $9.2 million, or $0.16 per share, compared with a net loss of $6.8 million, or $0.12 per share, in fiscal 2007. The results for both periods include stock-based compensation expense of $1.9 million and $1.1 million, respectively.

With respect to fiscal 2009, management indicated that it expects overall revenue growth to be between 30-35 percent driven in large part by increased AXP disposable bagset sales as well as new revenues from MXP, the successful launch of Vantus services, and the launch of a new point-of-care stem cell product platform. Management also expects continued gross margin improvement during the year with fourth quarter g
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SOURCE ThermoGenesis Corp.
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