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CryoLife 2013 First Quarter Revenues Grew 10 Percent to a Record $35.5 Million
Date:4/30/2013

$1.0 million, or $0.04 per basic and fully diluted common share, for the first quarter of 2012.  Net income for the first quarter of 2013 included $445,000 in business development and integration charges primarily related to Hemosphere integration costs.  Additionally, the effective income tax rate for the first quarter of 2013 benefited from the recognition of the 2012 research and development tax credits during the quarter.Product revenues were $19.8 million for the first quarter of 2013, up 20 percent from $16.5 million in the first quarter of 2012. 

Surgical sealant and hemostat revenues, which consisted primarily of sales of BioGlue® and PerClot®, were $16.3 million for the first quarter of 2013 compared to $14.3 million for the first quarter of 2012, an increase of 14 percent.  The increase in surgical sealant and hemostat revenues was primarily due to an increase in BioGlue shipments into international markets, largely Japan, and an increase in PerClot revenues.

Revascularization technologies revenues were $2.2 million for the first quarter of 2013 compared to $2.1 million for the first quarter of 2012.  The increase in revascularization technologies revenues was due to a 14 percent increase in handpiece revenues largely offset by a decrease in laser console revenues, in-line with the Company's strategy to focus on increasing per procedure handpiece revenues.

HeRO Graft revenues were $1.3 million for the first quarter of 2013 as a result of the Company's acquisition of Hemosphere in May 2012.Preservation services revenues were $15.7 million for the first quarter of 2013 and the first quarter of 2012.  Vascular preservation services revenues increased 5 percent for the first quarter of 2013 due to an increase in average service fees and an increase in shipments of vascular tissues, while cardiac preservation service revenues in the first quarter of 2013 decreased 6 percent com
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SOURCE CryoLife, Inc.
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4. CryoLife 2012 Annual Revenues Grew to a Record $131.7 Million
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