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

partnering, licensing, and other strategic alternatives for the endovascular business and the process has accelerated over the last sixty days. Once the process has been completed, we will make the appropriate announcement," Mr. Kaufmann concluded.

Fiscal 2008 Fourth Quarter Guidance. Due to the ongoing review of strategic alternatives for our Endovascular business, the Company will not provide its typical financial guidance for the fourth quarter. Guidance will be provided for the biomaterials sales and royalties with additional guidance on the entire business provided at a later date.

For the fourth quarter of fiscal year 2008, the Company believes that its Biomaterials sales will be in the range of $12.7 to $12.9 million, a 31% to 33% increase from the prior year period. Royalties will be in the range of $6.6 million to $6.8 million, a 2% to 5% increase from the prior year period. Fiscal year 2008 biomaterials net sales are expected to be in the range of $46.9 million to $47.1 million representing 14% to 15% growth from fiscal year 2007. Fiscal year 2008 royalties will be in the range of $25.6 million to $25.8 million representing 4% to 5% growth from fiscal year 2007.

Share Repurchase Update. During the third quarter and the nine months ended March 31, 2008, the Company repurchased 300,000 and 623,000 shares of its common stock, respectively for a total of $8.4 million and $17.2 million, respectively, with up to $7.8 million remaining under the previously announced $25 million share repurchase program.

Research and Experimentation Tax Credit. The Company is awaiting Congressional approval extending the Research and Experimentation (R&E) Tax Credit for calendar year 2008. Until the 2008 R&E Tax Credit extension is approved, the Company can only claim research and development tax credits for work performed through December 31, 2007 as a component of its tax provision. Therefore, the current quarter tax provision and effective tax rate
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