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and tax expenses in the fourth quarter, the Company would have been profitable.
Guy L. Mayer, President and Chief Executive Officer of Tutogen Medical, said, "Fiscal 2007 was a watershed year for Tutogen Medical. We made significant strides in positioning the Company for consistent future growth. Sales in all of the markets in which we compete achieved strong double digit growth. We are very pleased with the continued market acceptance of our dental products, the strong increase in overall domestic sales and the strong increase in international sales. We are particularly pleased with the year-over-year sales growth in our spine products. This is a market that required us to make a significant strategic shift to develop higher value machined-bone products and surgical instruments to successfully implant those products. The 92% sales growth in 2007 in spine product sales indicates to us that we are heading in the right direction in that market. All in all, we are gratified with the operating and financial results of fiscal year 2007."
Mr. Mayer continued, "During the year, we signed a new agreement with
Zimmer Dental to distribute our dental products internationally, which
represents a significant opportunity for additional growth. In our surgical
specialty markets, we entered into a worldwide agreement with Coloplast for
our urology product portfolio in May of 2007. The most compelling markets
for future growth are our entry into the hernia repair market with Davol, a
subsidiary of C.R. Bard, in January of 2007 and into the breast
reconstruction market for post mastectomy procedures with Mentor
Corporation in July of 2007. We believe that partnering with these industry
leaders in specialty surgical markets for our dermis allograft products
creates significant growth opportunities in large and established markets
for many years to come. Our dermis allograft products are performing very
well clinically and offer significant benefit enhancement to surgeons
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| SOURCE Tutogen Medical, Inc. Copyright©2007 PR Newswire. All rights reserved |
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