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

to identify forward-looking statements. There are a number of important factors that could cause Cardica's results to differ materially from those indicated by these forward-looking statements, including that the European clinical trial may not be commenced or completed on schedule, or at all, due to events or difficulties in the development of the microcutter products; that Cardica may not complete the development of its planned microcutter product line on its anticipated timeframe, or at all, due to regulatory, technical, manufacturing or financial difficulties; that Cardica's sales, marketing and distribution strategy and capabilities may not be sufficient or successful to return sales in the cardiac business to $1 million per quarter; that Cardica requires substantial additional capital which, if not obtained, may prevent it from completing the development and commercialization of its microcutter products; as well as other risks detailed from time to time in Cardica's reports filed with the U.S. Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2011. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at www.sec.gov. Cardica, Inc.Statements of Operations(amounts in thousands except per share amounts)Three months endedSix months endedDecember 31,December 31,2011201020112010(unaudited)(unaudited)Revenue  Product sales, net$
811$
,094$
,578$
2,089  License and development revenue

84841689,109  Royalty revenue 17163638Total9121,1941,78211,236Operating costs and expenses  Cost of product sales1,0789611,9051,905  Research and development1,4821,9723,0393,347  Selling, general and administrative

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