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

pered by the size of the sales force, which was smaller than projected by approximately 35%.

Royalty income increased 7% to $6.5 million in the second quarter of fiscal 2008 compared to $6.1 million in the comparable prior fiscal year period. Royalty income included $5.4 million in Angio-Seal royalties, a 5% increase from $5.1 million in the comparable quarter of the prior fiscal year, and $1.1 million in bone void filling product royalties from Orthovita, Inc., an 11% increase from $968,000 in the prior fiscal year second quarter.

Earnings Per Share. The Company reported second quarter earnings per share of $0.21, exceeding the Company's previous guidance of $0.18 to $0.20, and the prior year second quarter of $0.13. Earnings per share were exceptionally strong compared to the prior fiscal year period due to the increases in both sales and royalties and an 18% reduction in R&D expenses primarily related to endovascular spending, all of which more than offset increases in selling, general and administrative expenses.

The following chart summarizes the Company's results for the three months ended December 31, 2007, compared to its results for the comparable period in the prior fiscal year.

Three Months Year over

Ended December 31, Year %

($ millions, except per share data) 2007 2006 Change

Data As Reported:

Net Sales - Biomaterials $11.5 $10.0 15%

Net Sales - Endovascular $1.7 $1.2 36%

Total Net Sales $13.1 $11.2 17%

Royalty Income $6.5 $6.1 7%

Total Revenues $19.6 $17.3 14%

Income from Operations, As Reported $3.6 $1.8 100%

Earnings Per Share, As
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SOURCE Kensey Nash Corporation
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