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

the growth continued to be negatively impacted by a 50% smaller than expected sales force, resulting from our announced exploration of strategic alternatives for the endovascular business.

Royalty income increased 2% to $6.5 million in the third quarter of fiscal 2008 compared to $6.3 million in the comparable prior fiscal year period. Royalty income included $5.3 million in Angio-Seal(TM) royalties, which was consistent with the comparable quarter of the prior fiscal year, and $1.1 million in bone void filling product royalties from Orthovita, Inc., an 18% increase from $935,000 in the prior fiscal year third quarter.

Earnings Per Share. The Company reported third quarter earnings per share of $0.28, a 47% increase over the prior year third quarter of $0.19 and exceeded the Company's previous guidance of $0.25 to $0.27. Earnings per share improved significantly, compared to the prior fiscal year period, due to increased sales of both biomaterials and endovascular products, improved gross margins on product sales and a 24% reduction in research and development expenses primarily related to prior year endovascular spending on the discontinued embolic protection product line.

The following chart summarizes the Company's results for the three months ended March 31, 2008, compared to its results for the comparable period in the prior fiscal year.

Three Months Year over

Ended March 31, Year %

2008 2007

Change

($ millions, except per share data)

Data As Reported:

Net Sales - Biomaterials $12.6 $11.6 8%

Net Sales - Endovascular $1.6 $1.0 49%

Total Net Sales $14.1 $12.6 12%

Royalty Income $6.5
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SOURCE Kensey Nash Corporation
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