Osteotech Reports 2008 Second Quarter Diluted Earnings Per Share of $.10 on Revenues of $27...(services the impact of competitive produ...),Health

Date:7/31/2008

services, the impact of competitive products and services, the availability of sufficient quantities of suitable donated tissue and the success of cost control and margin improvement efforts. Certain of these factors are detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. All information in this press release is as of July 31, 2008 and the Company does not intend to update this information.

OSTEOTECH, INC. and Subsidiaries

CONSOLIDATED STATEMENTS OF OPERATIONS

(dollars in thousands, except per share data)

Three Months Six Months

Ended June 30, Ended June 30,

2008 2007 2008 2007

Revenue $27,553 $26,470 $55,184 $51,687

Cost of revenue 13,051 13,680 26,440 26,580

Gross profit 14,502 12,790 28,744 25,107

Marketing, selling and

general and

administrative expenses 11,323 10,434 23,003 22,124

Research and development

expenses 1,774 1,281 3,534 2,445

13,097 11,715 26,537 24,569

Operating income 1,405 1,075 2,207 538

Interest expense, net (274) (152) (486) (302)

Other 945 (114) 1,223 22

Income before income taxes 2,076 809 2,944 258

Income tax provision

(benefit) 330 (46) 390 51

Net Income $1,746 $855 $ 2,554 $207

Earnings per share:

Basic
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SOURCE Osteotech, Inc. Copyright©2008 PR Newswire. All rights reserved

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