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Cardica Announces Fiscal 2013 Third Quarter Financial Results
Date:4/30/2013

geons 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 endedNine months endedMarch 31,March 31,2013201220132012(unaudited)(unaudited)Revenue  Product sales, net$
767$
852$
2,322$
2,430  License and development revenue

8484252252  Royalty revenue 17175353Total8689532,6272,735Operating costs and expenses  Cost of product sales1,0899692,6892,875  Research and development

2,0221,9606,8484,999  Selling, general and administrative

1,5931,6445,0404,668Total operating costs and expenses

4,7044,57314,57712,542Loss from operations(3,836)(3,620)(11,950)(9,807)Interest and other income

43115Interest expense(114)(105)(339)(161)Net loss$
(3,946)$
(3,722)$   (12,278)$
(9,963)Basic and diluted net loss per share

$
(0.10)$
(0.12)$
(0.33)$
(0.35)Shares used in computing basic and diluted net loss per share

38,63331,88037,43628,594 

Balance Sheets(amounts in thousands)March 31,June 30,20132012Assets(unaudited)Cash and cash equivalents

$
,960$
4,645Accounts receivable 335299Inventories1,400576Other assets3,6272,622Total assets$
22,32
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SOURCE Cardica, Inc.
Copyright©2012 PR Newswire.
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