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Cardica Announces Fiscal 2012 Second Quarter Financial Results
Date:2/6/2012

>Surpassed a key corporate and commercial milestone with 25,000 PAS-Port® Proximal Anastomosis Systems deployed worldwide;
  • Increased cumulative worldwide shipments of PAS-Port Systems to over 26,000 units, with 1,027 units shipped in the fiscal 2012 second quarter; and
  • Increased cumulative worldwide shipments of C-Port® Distal Anastomosis Systems to over 12,600 units, with 251 units shipped in the fiscal 2012 second quarter.

  • Fiscal 2012 Second Quarter and Six Months Ended December 31, 2011 Financial Results
    Total product sales were approximately $0.8 million for the fiscal 2012 second quarter compared to $1.1 million for the same period of fiscal 2011. License and development revenue was $84,000 in both the fiscal 2012 and fiscal 2011 second quarters. License and development revenue for both the fiscal 2011 and fiscal 2012 quarters was related to the August 2010 license agreement with Intuitive Surgical. Total net revenue was approximately $0.9 million for the fiscal 2012 second quarter compared to $1.2 million for the fiscal 2011 second quarter. Cost of product sales was approximately $1.1 million for the fiscal 2012 second quarter compared to $1.0 million for the fiscal 2011 second quarter.

    Research and development expenses were approximately $1.5 million for the fiscal 2012 second quarter, compared to $2.0 million for the same period of fiscal 2011. Selling, general and administrative expenses were approximately $1.5 million for the fiscal 2012 second quarter compared to $1.6 million for the fiscal 2011 second quarter.  

    The net loss for the fiscal 2012 second quarter was approximately $3.2 million, or $0.12 per share, compared with a net loss of approximately $3.3 million, or $0.13 per share, for the fiscal 2011 second quarter.

    Total product sales were approximately $1.6 million for the six months ended December 31, 2011 compared to $2.1 million for the same period of fiscal 2011. Total
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    SOURCE Cardica, Inc.
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