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ThermoGenesis Corp. Reports First Quarter 2008 Results
Date:11/8/2007

COMPANY REPORTS PROGRESS ON KEY INITIATIVES

RANCHO CORDOVA, Calif., Nov. 8 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process, store, and administer therapeutic doses of adult stem cells for treatment of disease and injury, today reported results for the first quarter of fiscal 2008.

Revenues for the quarter ended September 30, 2007, were $3.6 million compared with revenues of $4.3 million for the first quarter of fiscal 2007. Total disposables revenue rose over 90 percent for the first fiscal quarter to $1.9 million as compared to $1 million in the same quarter one year ago.

The Company reported a net loss in the first quarter of $2.3 million, or $0.04 per share, versus a net loss of $1.1 million, or $0.02 per share, in the first quarter of the prior year. At September 30, 2007, the Company had $31.4 million in cash, cash equivalents and investments.

"We made significant progress in a number of areas during the quarter -- including the production quality of our AXP(TM) AutoXpress Platform (AXP) bag sets -- but our results were impacted by two factors," said Dr. William Osgood, Chief Executive Officer.

"The first was related to false negative results in quality testing for our AXP bag sets. While we have resolved this issue, we were not able to ship roughly $275,000 in bag sets until after the end of the quarter. In the meantime, our AXP backlog at quarter end was $3.4 million and we expect to ship up to $1.4 million of this during the second quarter," he continued.

Osgood said the second factor impacting first quarter results was three BioArchive(R) System sales through its distributor GE He
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SOURCE ThermoGenesis Corp.
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