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

wth will be balanced with ongoing investments in our product pipeline, including the U.S. clinical trial for PerClot, which we expect to initiate in the first half of the year."

Net income for the fourth quarter of 2012 was $2.1 million, or $0.08 per basic and $0.07 per fully diluted common share, compared to net income of $1.9 million, or $0.07 per basic and fully diluted common share, for the fourth quarter of 2011.  Net income for the fourth quarter of 2012 included $790,000 in business development and integration charges primarily related to the acquisition of Hemosphere and $171,000 in litigation expenses.  Additionally, the effective income tax rate benefited from the adjustment of valuation allowances on state net operating losses.  Excluding these charges, and using a 34 percent effective tax rate, proforma non-GAAP earnings per share would have been $0.08 in the fourth quarter of 2012.  Net income for the fourth quarter of 2011 included $144,000 in business development and integration charges and $843,000 in litigation expenses.  Excluding these charges and using a 34 percent effective tax rate, proforma non-GAAP earnings per share would have been $0.09 in the fourth quarter of 2011. 

Net income for the full year of 2012 was $7.9 million, or $0.29 per basic and $0.28 per fully diluted common share, compared to net income of $7.4 million, or $0.26 per basic and fully diluted common share, for the full year of 2011.  Net income for the full year of 2012 included a pretax benefit of $4.7 million related to the settlement of the litigation with Medafor, pretax charges of $4.1 million related to the settlement of the litigation with CardioFocus, $3.9 million in litigation expenses offset by $3.4 million in reimbursement of certain litigation expenses from insurance carriers, and $2.7 million in business development and integration charges primarily related to the acquisition of Hemosphere.  Additionally, the
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SOURCE CryoLife, Inc.
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Related medicine technology :

1. CryoLife Reports Record Quarterly Revenues in First Quarter of 2012
2. CryoLife Completes Acquisition of Hemosphere
3. CryoLife to Participate in 3rd Annual Benchmark Company, LLC One-on-One Investor Conference
4. CryoLife Announces Release Date and Teleconference Call Details for 2012 Second Quarter Financial Results
5. CryoLife Reports 13% Revenue Growth for Second Quarter 2012
6. CryoLife Announces Initiation of Quarterly Cash Dividend
7. CryoLife Reports 13% Revenue Growth for Third Quarter 2012
8. CryoLife to Participate in Lazard Capital Markets 9th Annual Healthcare Conference
9. CryoLife Receives Expanded Indication for BioFoam in Europe
10. CryoLife Announces Release Date and Teleconference Call Details for 2012 Fourth Quarter and Year End Financial Results
11. CryoLife Announces Quarterly Cash Dividend for the First Quarter 2013
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