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Cardiogenesis Reports First Quarter 2011 Results

n" style="font-family:Arial;font-size:8pt;">$

Net loss per share:Basic and diluted


Weighted average shares outstanding:Basic and diluted


45,551CARDIOGENESIS CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)March 31,December 31,20112010(unaudited)(audited)ASSETSCurrent assets:Cash and cash equivalents


$  1,810Accounts receivable, net of allowance for doubtful accounts of $1 and $11, respectively




627Prepaids and other current assets


412Total current assets


4,224Property and equipment, net


275Other assets

—Total assets


$  4,499LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable


$  359Accrued salaries and related


723Accrued liabilities


531Deferred revenue


684Note payable


111Current portion of capital lease obligations


8Total current liabilities


2,416Capital lease obligations, less current portion


5Total liabilities


2,421Commitments and contingenciesShareholders' equity:Preferred stock:no par value; 5,000 shares authorized; none issued and outstanding

—Common stock:no par value; 75,000 shares authorized; 46,061 and 45,739 shares issued and outstanding, respectively



SOURCE Cardiogenesis Corporation
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