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

eting expenses for the full year of 2012 and 2011 included approximately $2.7 million and $4.2 million, respectively, in business development and integration expenses.

Research and development expenses were $2.1 million and $1.8 million for the fourth quarters of 2012 and 2011, respectively.  Research and development expenses were $7.3 million and $6.9 million for the full year of 2012 and 2011, respectively.  Research and development spending in the fourth quarter and full year of 2012 was focused on PerClot, HeRO Graft, revascularization technologies, SynerGraft® tissues and products, and BioFoam. 

During the full year of 2012, the Company purchased 639,000 shares of the Company's common stock at an average price of $5.15, resulting in aggregate purchases of $3.3 million.

As of December 31, 2012, the Company had $18.3 million in cash, cash equivalents, and restricted cash and securities, compared to $27.0 million at December 31, 2011.  Of this $18.3 million in cash, cash equivalents, and restricted cash and securities, $5.0 million was designated as restricted cash and securities primarily due to a financial covenant requirement under the Company's credit agreement.  The Company's net cash flows provided by operations were $8.0 million for the fourth quarter of 2012 compared to $3.0 million for the fourth quarter of 2011, and $19.0 million for the full year of 2012 compared to $16.8 million for the full year of 2011.

2013 Financial Guidance The Company expects total revenues for the full year of 2013 to be between $139.0 million and $143.0 million.  This represents annual total revenue growth of 6 percent to 9 percent.  The Company expects tissue processing revenues to grow in the low to mid-single digits full year of 2013 compared to 2012.  Revenues from the Company's higher margin product segment are expected to grow between 9 percent and 13 percent for the full year of 2013. &#
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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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