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

$6.3 2%

Total Revenues $20.6 $19.0 9%

Income from Operations,

As Reported

$5.3 $3.2 69%

Earnings Per Share, As Reported $0.28 $0.19 47%

Supplemental Information Related

to Equity Compensation Expense:

Total Equity Compensation Expense $0.2 $0.8 (69%)

Equity Compensation Expense Per

Share (net of tax) $0.01 $0.04 (75%)

Nine Month Results

Revenues: Sales and Royalties. Total revenues were $57.8 million for the nine months ended March 31, 2008, an increase of 10% from $52.5 million in the prior year nine month period.

Net sales increased 13% to $38.8 million for the first nine months of fiscal 2008 from $34.4 million recorded in the comparable prior year period. Net sales of biomaterials products increased 9% to $34.2 million from $31.4 million, primarily due to orthopaedic product sales, which increased 33% to $21.1 million from $15.8 million. Sports medicine sales increased 18% over the prior year nine months and spine product sales increased 58% from the prior year. The increase in spine product sales was primarily attributable to a $2.1 million increase in sales to Orthovita as well as $1.7 million of new product sales resulting from the MacroPore Biosurgery asset acquisition. The increase in sales to Orthovita was due in part to timing of shipments and a shift in ordering patterns from Orthovita, as well as initial shipments for the new VITOSS(R) BioActive product line expected to be launched by Orthovita in the second calendar quarter of 2008. The Company anticipates a slight decrease in sales for the Orthovita VITOSS(R) Foam(TM) product line in the fourth quarter of fiscal 2008, however end-user sales of the VITOSS(R) Foam(TM) products are continuing to demonstrate growth in the marketpla
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SOURCE Kensey Nash Corporation
Copyright©2008 PR Newswire.
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