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Kensey Nash Provides 4th Quarter Fiscal 2008 and Fiscal Year 2009 Guidance
Date:6/23/2008

o support the exciting opportunities that we believe will have substantial impact on the long-term growth of our Company. We will place significant focus on our cartilage repair product this coming year, where efforts will be dedicated to pre-clinical and clinical programs to further this product toward regulatory approval. In addition, we will perform the development of the next generation ThromCat(TM) and SafeCross(TM) products pursuant to our recent agreement with Spectranetics, under which we will earn milestones for FDA approval of such next generation endovascular products. These products will also provide additional future opportunities to expand both revenue and earnings for our Company.

In closing, we expect that our operating margins will continue to substantially improve and exceed 30% in fiscal year 2009. As a result of our anticipated revenue growth coupled with the expanding operating margins, we believe earnings per share for fiscal 2009 will increase between 65% and 70% over our forecasted 2008 results, to a range of $1.57 to $1.65 per share. We are very excited about our prospects in fiscal year 2009 and beyond."

Share Buyback

The Company is also announcing that its board of directors has expanded its existing $25.0 million stock repurchase program in order to provide the Company with more flexibility to buy its own shares. The new program allows the Company to repurchase up to an additional $10.0 million of its issued and outstanding shares of Common Stock and has no expiration. The Company intends to finance the repurchases using its available cash, which it forecasts at approximately $58.0 to $60.0 million by June 30, 2008. Kensey Nash Corporation plans to repurchase its shares for cash, from time to time in the open market, through block trades or otherwise. The repurchase program does not require the Company to purchase any specific dollar value or number of shares. Any purchases under the program will depend on market cond
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SOURCE Kensey Nash Corporation
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