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Kensey Nash Reports Third Quarter Record Revenue and Sales
Date:4/29/2008

- EPS of $0.28 Represents Increase of 47% Over Prior Year Period and

Exceeds Guidance -

EXTON, Pa., April 29 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY) today reported the results for its third quarter and nine months of fiscal year 2008.

Third Quarter Results

Revenues: Sales and Royalties. Total revenues increased 9% to a record level of $20.6 million in the Company's third fiscal quarter ended March 31, 2008, from $19.0 million in the comparable prior year period.

Net sales increased 12% to $14.1 million in the third quarter from $12.6 million in the comparable prior year period. Net sales of biomaterials products increased 8% to $12.6 million from $11.6 million in the third quarter of fiscal 2007 driven by orthopaedic product sales and cardiovascular product sales. Orthopaedic sales increased 8% to $7.7 million from $7.1 million in the prior year period. Cardiovascular sales of $4.3 million, which include sales of vascular closure product components to St. Jude Medical, increased 9%, from $4.0 million in the prior year period.

Sales of endovascular products increased 49% to $1.6 million in the third quarter of fiscal 2008 from $1.0 million in the comparable prior year period. The results reflected both strong U.S. and international sales of the ThromCat(TM) Thrombectomy and QuickCat(TM) Aspiration Catheter products. International endovascular sales were particularly strong, at $605,000, increasing 104% from the comparable prior year period. Sales of the Safe- Cross(R) device in the U.S. increased over 200% in the third quarter over the prior fiscal period. Overall, the U.S. endovascular sales were $953,000, an increase of 27% year over year, although
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SOURCE Kensey Nash Corporation
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