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Osteotech Reports 2007 Third Quarter Financial Results; Core Segment Revenue Increased 28%; Gross Margin Improved to 55%; Diluted Earnings Per Share of $.09
Date:11/6/2007

2007 2006 2007 2006

(restated) (restated)

Revenue $25,651 $23,448 $77,338 $73,810

Cost of revenue 11,443 11,994 38,023 38,117

Gross profit 14,208 11,454 39,315 35,693

Marketing, selling

and general

and administrative 11,051 9,751 33,341 29,856

Research and development 1,178 1,192 3,457 3,507

12,229 10,943 36,798 33,363

Operating income 1,979 511 2,517 2,330

Interest expense, net (157) (219) (459) (738)

Other (208) (131) ( 186) 359

Income before

income taxes 1,614 161 1,872 1,951

Income tax

provision (benefit) 10 (74) 61 105

Net Income $1,604 $235 $1,811 $1,846

Earnings per share:

Basic $.09 $.01 $.10 $.11

Diluted $.09 $.01 $.10 $.11

Shares used in computing

earnings per share:

Basic 17,573,134 17,295,314 17,494,807 17,281,703

Diluted 17,990,101 17,352,420 17,858,501 17,356,109

OSTEOTECH, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(dollars in thousands)

September 30, December 31,

2007 2006

Assets

Cash and cash equivalents $20,840 $17,946

Accounts receivable, net
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SOURCE Osteotech, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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