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CryoLife 2012 Annual Revenues Grew to a Record $131.7 Million
Date:2/14/2013

ATLANTA, Feb. 14, 2013 /PRNewswire/ --

Full Year Highlights:

  • Total revenues grew 10% year-over-year to a record $131.7 million
  • Product revenues grew 14% year-over-year to $67.5 million
  • Tissue processing revenues grew 6% year-over-year to $63.6 million
  • Generated $19.0 million in cash flow from operations
  • Fourth Quarter Highlights:

  • Total revenues grew 8% year-over-year to a record $32.8 million
  • Product revenues grew 13% year-over-year to $17.5 million
  • Tissue processing revenues grew 3% year-over-year to $15.2 million
  • Generated $8.0 million in cash flow from operations
  • CryoLife, Inc. (NYSE: CRY), a leading tissue processing and medical device company focused on cardiac and vascular surgery, announced today its results for the fourth quarter and full year of 2012.  Revenues for the fourth quarter of 2012 increased 8 percent to a record $32.8 million compared to $30.4 million for the fourth quarter of 2011.  Revenues for the full year of 2012 increased 10 percent to a record $131.7 million compared to $119.6 million for the full year of 2011.

    Steven G. Anderson, president and chief executive officer, said, "In 2012 we continued to execute on our strategy to complement our established tissue processing business with an expanded offering of higher growth and margin medical device products.  During the year we acquired the HeRO Graft, a proprietary graft-based solution for certain patients with end-stage renal disease that fit this product profile.  We also enhanced our financial position by settling all significant outstanding litigation.  As a result, we generated 10 percent revenue growth for the year while also generating strong cash flow and profitability.

    "Looking forward, we are well positioned to further leverage our focused sales and marketing team to drive growth of our portfolio of medical device products. This gro
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    SOURCE CryoLife, Inc.
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