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Cardica Announces Fiscal 2011 Fourth Quarter and Year End Financial Results
Date:8/9/2011

REDWOOD CITY, Calif., Aug. 9, 2011 /PRNewswire/ -- Cardica, Inc. (Nasdaq: CRDC) today announced financial results for its fiscal fourth quarter and year ended June 30, 2011. Cardica's management will host a conference call at 4:30 p.m. Eastern Time today to discuss the financial results and provide an update on the company's business.

"The Microcutter XPRESS 30 has now been used successfully in multiple laparoscopic procedures in Europe, with all treated patients discharged as planned without any complications," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica.  "The initial feedback from these and future surgical experiences will be incorporated into both improvements in the XPRESS 30 as well as other iterations of the microcutter product family, including the XPRESS™ 45 and the XCHANGE™ 30, both of which we expect to complete design verification and then certify for  CE Mark by the end of the 2011 calendar year."

Recent Highlights and Accomplishments

  • Dr. Andreas Kuthe performed the first laparoscopic procedures using the Microcutter XPRESS™ 30 stapling and cutting device;
  • Completed the internal design validation process for the Microcutter XPRESS 30, and subsequently applied CE Mark to this device;
  • Increased cumulative worldwide shipments of PAS-Port(R) Proximal Anastomosis Systems to over 24,100 units, with 1,113 units shipped in the fiscal 2011 fourth quarter; and
  • Increased cumulative worldwide shipments of C-Port(R) Distal Anastomosis Systems to over 12,100 units, with 312 units shipped in the fiscal 2011 fourth quarter.

  • Fiscal 2011 Fourth Quarter and Year Ended June 30, 2011 Financial ResultsTotal product sales were approximately $0.9 million for the fiscal 2011 fourth quarter compared to $1.0 million for the same period of fiscal 2010. License
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    SOURCE Cardica, Inc.
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