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

net revenue for the six months ended December 31, 2011 was approximately $1.8 million compared to approximately $11.2 million for the same period of fiscal 2011. Total net revenue for the fiscal 2011 six month period included $9.1 million related to a license agreement with Intuitive Surgical for a royalty-bearing license to Cardica's "staple-on-a-strip" technology for the field of robotics.

Total operating costs and expenses for the six months ended December 31, 2011 were approximately $8.0 million compared to $8.4 million for the six months ended December 31, 2010. Net loss for the first six months of fiscal 2012 was approximately $6.2 million, or $0.23 per diluted share, compared to net income of $2.9 million for the first six months of fiscal 2011, or $0.12 per diluted share.

Cash and short term investments at December 31, 2011 were approximately $7.6 million compared with $9.1 million at September 30, 2011. As of December 31, 2011, there were approximately 27.2 million shares of common stock outstanding.  

Conference Call Details
To access the live conference call today at 4:30 p.m. Eastern Time via phone, please dial 866-730-5767 from the United States and Canada or 857-350-1591 internationally. The conference ID is 42357720. Please dial in approximately 10 minutes prior to the start of the call. A telephone replay will be available beginning approximately two hours after the call through February 13, 2012, and may be accessed by dialing 888-286-8010 from the United States and Canada or 617-801-6888 internationally. The replay passcode is 20015674.

To access the live and subsequently archived webcast of the conference call, go to the Investor Relations section of the company's website at www.cardica.com. Please connect to the website at least 15 minutes prior to the presentation to allow for any necessary software downloads.

The webcast is also being distributed through the
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SOURCE Cardica, Inc.
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