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Cardiogenesis Reports Fourth Quarter and Full-Year 2009 Results
Date:3/3/2010

per basic and diluted share in the 2008 fourth quarter.

"The increase in fourth quarter sales is a direct result of focusing our sales team on the previously installed laser systems in U.S. hospitals," said Cardiogenesis Executive Chairman Paul McCormick, "These positive financial results will allow us to step up our investment in research and development as we prepare to initiate a U.S. clinical trial for our novel PHOENIX™ Delivery System, which combines myocardial tissue stimulation with the intramyocardial delivery of stem cells. We believe that the combination of our PHOENIX technology with bioactive cells represents an exciting growth opportunity for us and could potentially represent a new standard of care for delivery of stem cells to the heart."

Handpiece revenue in the fourth quarter of 2009 increased $412,000, or 24%, to $2,134,000 as compared to $1,722,000 in the same period of the prior year.  Laser revenue in the fourth quarter of 2009 increased $327,000, or 48%, to $687,000 over the fourth quarter of 2008 as a result of higher average sales prices.

Revenues for the 2009 full-year totaled

SOURCE Cardiogenesis Corporation
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