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Cardica Announces Fiscal 2012 First Quarter Financial Results
Date:10/27/2011

es, marketing and distribution strategy and capabilities may not be sufficient or successful; and that general business and economic conditions may impair Cardica's ability to market and develop products, as well as other risks detailed from time to time in Cardica's reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2011. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at www.sec.gov. Cardica, Inc.Statements of Operations(amounts in thousands except per share amounts)Three months endedSeptember 30,20112010(unaudited)Revenue  Product sales, net

$
767$
995  License and development revenue

849,025  Royalty revenue

1922Total

87010,042Operating costs and expenses  Cost of product sales

827944  Research and development

1,5571,375  Selling, general and administrative

1,5411,495Total operating costs and expenses

3,9253,814Income (loss) from operations

(3,055)6,228Interest and other income

-8Interest expense

-(13)Net income (loss)

$
(3,055)$
,223Basic net income (loss) per share

$
(0.11)$
.25Diluted net income (loss) per share

$
(0.11)$
.24Shares used in computing net income (loss) per share   Basic

26,80624,623   Diluted

26,80626,000Balance Sheets(amounts in thousands)September 30,June 30,20112011Assets

(unaudited)Cash and cash equivalents

$
9,074$
9,325Accounts receivable

262327Inventories

778840Other assets

1,664978Total assets

$
,778$
,470Liabilities and stockholders' equityAccounts payable and other liabi
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SOURCE Cardica, Inc.
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