Kensey Nash Reports First Quarter Fiscal Year 20...( - Adjusted Earnings Per...),Health

- Adjusted Earnings Per Share Exceeds Guidance -

EXTON, Pa., Oct. 19 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY) today reported the results for its first quarter of fiscal year 2008.

First Quarter Results

Revenues, Sales and Royalties. Total revenues, which include net sales and royalty income, were $17.6 million in the quarter ended September 30, 2007, an increase of 8% from $16.3 million in the prior year first quarter.

Net sales increased 9% to $11.5 million in the first quarter of fiscal 2008 from $10.6 million in the first quarter of fiscal 2007. Net sales of biomaterials products increased 3% to $10.2 million from $9.8 million in the comparable prior year fiscal quarter. Orthopaedic sales increased 40% to $6.1 million from $4.4 million in the same period of the prior fiscal year due to new product sales from the Macropore asset acquisition that was completed in late fiscal 2007 coupled with strong sales of spine products from our existing customers. Sales of vascular closure product components decreased 26% from the prior year period, as anticipated.

Sales of endovascular products for the quarter increased 93% to $1.4 million from $708,000 in the prior year period, and 69% sequentially over the June quarter. Excluding the $356,000 in credits given to customers in relation to the discontinuance of embolic protection decision in the fourth quarter of fiscal 2007, endovascular sales increased 17% sequentially over the June quarter. The results reflected both strong U.S. and international sales of the ThromCat(TM) Thrombectomy and QuickCat(TM) Aspiration Catheter products. Sales of the Safe-Cross(R) device also contributed to the U.S. performance in the f
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