Date:1/31/2013

g 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 Cardica may not be successful in its efforts to further develop or commercialize the XCHANGE 30; that the XCHANGE 30 may face development, regulatory, reimbursement and manufacturing risks; that Cardica's intellectual property rights may not provide adequate protection to enable further development of the XCHANGE 30; that surgeons may not use the XCHANGE 30 correctly, which could cause unfavorable results that may impair the acceptance of the XCHANGE 30 by other surgeons; and that Cardica may not have sufficient funds to develop the XCHANGE 30, 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 Current Report on Form 10-Q for the quarter ended December 31, 2012. 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 31,2012201120122011(unaudited)(unaudited)Revenue  Product sales, net$
773$
811$ 1,555$ 1,578  License and development revenue

8484168168  Royalty revenue 17173636Total8749121,7591,782Operating costs and expenses  Cost of product sales9681,0781,6001,905  Research and development

2,2741,4824,8263,039  Selling, general and administrative

1,7121,4833,4473,024Total operating costs and expenses

4,9544,0439,8737,968Loss from operations(4,080)(3,131)(8,114)(6,186)Interest and other income

4293Interest expe
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SOURCE Cardica, Inc. Copyright©2012 PR Newswire. All rights reserved

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