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Cardica Announces Fiscal 2010 Second Quarter Financial Results
Date:1/28/2010

2010 second quarter;
  • Increased cumulative worldwide shipments of C-Port® Distal Anastomosis Systems to over 10,000 units, with 458 units shipped in the fiscal 2010 second quarter;
  • Increased our independent distributors and manufacturers' representatives to nine organizations with the addition of Corazon Medical, Innovative Surgical Products, and White Medical Devices;
  • Announced that the Departments of Precision Engineering and Cardiothoracic Surgery at University of Tokyo, with funding from the New Energy and Industrial Technology Organizations and industrial support from Olympus and Terumo Corporations, will include Cardica's C-Port® Flex-A® Anastomosis System in the development of a new cardiac surgery robot, also known as an Intelligent Surgical Instrument;
  • Continued development of the Cardica Microcutter ES8, with animal trials expected to begin in the fiscal 2010 third quarter; and
  • Added Brian E. Farley, former president and chief executive officer of VNUS Medical Technologies, as a strategic, financial and business consultant to the company.

  • Fiscal 2010 Second Quarter and Six Months Ended December 31, 2009, Financial Results

    Total product sales were approximately $1.0 million for the fiscal 2010 second quarter compared to $2.0 million for the same period of fiscal 2009. Net product sales decreased as a result of Cardica's smaller direct sales force and the transition period necessary to train our new independent distributors and manufacturers' representatives. Development revenue was $19,000 for the fiscal 2010 second quarter compared to $928,000 for the same period of fiscal 2009 as Cardica and Cook Medical mutually agreed to temporarily suspend deve
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    SOURCE Cardica, Inc.
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