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Kensey Nash Reports Third Quarter and First Nine Month Fiscal Year 2009 Results
Date:4/22/2009

s to St. Jude Medical, increased 18%, from $11.7 million in the prior fiscal year period. Orthopaedic sales increased 8%, to $22.8 million from $21.1 million in the prior fiscal year period, primarily due to increased sales of products in the Company's sports medicine product portfolio, which increased 15% over the prior fiscal year nine months.

Sales of endovascular products during the first nine months of fiscal 2009 decreased 43% to $2.6 million from $4.6 million in the prior fiscal year period. Although overall net unit sales to Spectranetics increased compared to prior fiscal year end-user unit sales, the reduced transfer pricing more than offset the increase in units.

Royalty income increased 6% to $20.2 million for the nine months ended March 31, 2009 when compared with $19.0 million in the comparable prior fiscal year period. Royalty income in the first nine months of fiscal 2009 included $15.9 million in Angio-Seal(TM) royalties and $4.2 million in royalties from Orthovita. Angio-Seal(TM) royalties were up 1% from the comparable nine months of the prior fiscal year. Angio-Seal(TM) royalties were adversely impacted by approximately $300,000 due to foreign currency exchange. Orthovita royalties increased 31%, which was attributable to the successful introduction by Orthovita of its new VITOSS Bioactive FOAM products, as well as the continuing sales of existing VITOSS FOAM products by Orthovita in the end-user marketplace.

Earnings Per Share. The Company reported diluted earnings per share of $1.28 for the nine months ended March 31, 2009. The primary improvement in 2009 earnings per share is due to the elimination of the endovascular sales and marketing expenses, partially offset by anticipated increases in biomaterials research and development expenses. Diluted earnings per share of $0.47 for the first nine months of fiscal 2008 also included after-tax charges of $2.2 million ($3.3 mil
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