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Cardica Announces Fiscal 2011 Fourth Quarter and Year End Financial Results

e months endedTwelve months endedJune 30,June 30,2011201020112010(unaudited)(unaudited)Revenue  Product sales, net$
3,764  License and development revenue

84-9,277124  Royalty revenue 20267793Total1,04399113,2333,981Operating costs and expenses  Cost of product sales8471,0803,3503,687  Research and development1,7281,6787,4955,437  Selling, general and administrative

1,2871,2925,9145,734Total operating costs and expenses

3,8624,05016,75914,858Loss from operations(2,819)(3,059)(3,526)(10,877)Interest and other income(7)(1)2634Interest expense-(22)(11)(112)Net loss before income tax benefit

(2,826)(3,082)(3,511)(10,955)Income tax benefit-31-31Net loss$
(10,924)Basic and diluted net loss per share

(0.50)Shares used in computing basic and diluted net loss per share

26,54524,00025,62021,927Balance Sheets(amounts in thousands)June 30,June 30,20112010Assets(unaudited)Cash and cash equivalents

,561Short-term investments993-Accounts receivable 327376Inventories8401,131Other assets9781,723Total assets$
9,791Liabilities and stockholders' equityAccounts payable and other liabilities

,511Short term debt-1,400Deferred revenue1,114403Total stockholders' equity8,8686,477Total liabilities and stockholders' equity


SOURCE Cardica, Inc.
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