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Cardiogenesis Reports Fourth Quarter and Fiscal Year 2008 Results
Date:3/31/2009

CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three months ended Year ended December 31, December 31, 2008 2007 2008 2007 ---- ---- ---- ---- (unaudited) (audited) Net revenues $2,431 $2,767 $12,150 $12,059 Cost of revenues 650 1,036 2,239 2,949 --- ----- ----- ----- Gross profit 1,781 1,731 9,911 9,110 ----- ----- ----- ----- Operating expenses: Research and development 271 69 904 681 Sales and marketing 1,629 1,173 6,487 4,441 General and administrative 436 521 2,840 3,132 --- --- ----- ----- Total operating expenses 2,336 1,763 10,231 8,254 ----- ----- ------ ----- Operating (loss) income (555) (32) (320) 856 Other income (expense): Interest expense (1) (10) (23) (69) Interest income 4 26 59 120 Loss on disposal of fixed assets - (2) - (2) Non-cash interest expense - (53) - (89) Change in fair v
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