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$
40,806$
35,121Receivables, net
14,31314,636Deferred preservation costs
31,57036,445Inventories
6,4296,446Investment in equity securities
2,5943,221Total assets
137,438133,859Shareholders' equity
113,942110,446CRYOLIFE, INC.Unaudited Reconciliation ofNon-GAAP Net Income and Income per Common Share(In thousands, except income per common share data)Three Months EndedTwelve Months EndedDecember 31,December 312010200920102009GAAP:Income before income taxes$
3,458$
3,672$
7,277$
4,354Income tax expense
1,3431,3063,3335,675Net income$
2,115$
2,366$
3,944$
8,679Income per common share:Basic$
.08$
.08$
.14$
.31Diluted$
.08$
.08$
.14$
.31Weighted-average common shares outstanding:Basic
27,69228,20227,98728,106Diluted
28,03028,47328,27428,310Reconciliation excluding items:Income before income taxes, GAAP$
7,27Excluding write-down of HemoStase inventory
1,642Excluding acquired in-process research and development expense
3,513Excluding other than temporary investment impairment
3,638Net income before taxes, non-GAAP16,070Income tax expense calculated at 2010 effective tax rate of 41% for the twelve months
6,589Net income, non-GAAP$
9,481Income per common share, non-GAAP: Basic$
.34 Diluted$
.34Weighted-average common shares outstanding: Basic
27,987 Diluted
28,274Investors should consider this non-GAAP information in addition to, and not as a substitute for, financial measures prepared in accordance with U.S. GAAP. In addition, this non-GAAP financial information may not be the same as similar measures presented by other companies. Adjusted net income and adjusted income per common share exclude write-downs of HemoStase inventory and investment in Medafor common stock due to the termination of the Medafor exclusive distr
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