ALACHUA, Fla., Dec. 10 /PRNewswire-FirstCall/ -- Tutogen Medical, Inc.
(Amex: TTG), a leading manufacturer of sterile biological implant products
made from human (allograft) and animal (xenograft) tissue, today announced
financial results for the fiscal year and fourth quarter ended September
Summary of 2007
Highlights for the fiscal year include:
-- Total fiscal year 2007 revenues increased 42%;
-- Sales of dental products increased 38% in fiscal year 2007;
-- Sales of spine products increased 92%;
-- Surgical specialty product sales increased 65%;
-- U.S. revenues increased 49% for the fiscal year;
-- International revenues increased 27% in fiscal 2007;
-- Net income for fiscal year 2007 was $6.8 million, or $0.36 per fully
diluted share, compared to a net loss of $0.6 million, or $(0.04) per
fully diluted share, in fiscal year 2006; and,
-- Announced in November 2007 merger with Regeneration Technologies, Inc.
Merger Agreement with Regeneration Technologies:
As previously reported, on November 12, 2007, the Company entered into a
merger agreement with Regeneration Technologies, Inc. The merger
agreement provides that the Company's stockholders will receive
1.22 shares of Regeneration Technologies common stock for each share of
the Company's stock that they own. Upon completion of the merger, the
Company's stockholders will own approximately 45 percent of the combined
company, on a fully diluted basis. The proposed merger is currently
estimated to be completed in March, 2008.
2007 Fiscal Year Financial Results
For the 2007 fiscal year the Company reported revenu
|SOURCE Tutogen Medical, Inc.|
Copyright©2007 PR Newswire.
All rights reserved