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Kensey Nash Reports Second Quarter EPS of $0.21 and Revenue of $19.6 Million
Date:1/25/2008

-EPS and Revenue Growth of 62% and 14%, Respectively, Over Prior Year

Period-

EXTON, Pa., Jan. 25 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY) today reported the results for its second quarter and six months of fiscal year 2008.

Second Quarter Results

Revenues, Sales and Royalties. Total revenues, which include net sales and royalty income, increased 14% to $19.6 million in the Company's second fiscal quarter ended December 31, 2007, from $17.3 million in the comparable prior year period.

Net sales increased 17% to $13.1 million in the second quarter from $11.2 million in the comparable prior year period. Net sales of biomaterials products increased 15% to $11.5 million from $10.0 million in the second quarter of fiscal 2007 driven by orthopaedic product sales, which increased 67% to $7.2 million from $4.3 million. Sales of spine products increased 140%, including approximately $400,000 of new product sales resulting from the MacroPore Biosurgery asset acquisition, and 115% excluding this new product revenue. Additionally, sales of sports medicine products increased 23% over the prior year. Sales of vascular closure product components to St. Jude Medical decreased $1.7 million, or 33%, from the prior year period, as anticipated and previously disclosed.

Sales of endovascular products increased 36% to $1.7 million in the second quarter of fiscal 2008 from $1.2 million in the comparable prior year period, and 22% sequentially from $1.4 million in the first quarter of fiscal 2008. International endovascular sales were very strong, more than doubling year over year. U.S. sales increased 13% year over year and 28% sequentially, although the growth was ham
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SOURCE Kensey Nash Corporation
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