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CryoLife Posts Record Quarterly Revenues of $30.2 Million
Date:4/28/2011

erClot, and HemoStase®, were $14.4 million for the first quarter of 2011 compared to $14.0 million for the first quarter of 2010, an increase of 3 percent.  The increase in product revenues was primarily due to the addition of PerClot revenues in the first quarter of 2011, partially offset by a decrease in HemoStase revenues.  

Total gross margins were 61 percent and 60 percent for the first quarters of 2011 and 2010, respectively.  Preservation services gross margins were 41 percent and 40 percent for the first quarters of 2011 and 2010, respectively.  Product gross margins were 83 percent and 82 percent for the first quarters of 2011 and 2010, respectively.

General, administrative, and marketing expenses for the first quarter of 2011 were $14.3 million compared to $13.8 million for the first quarter of 2010.  General, administrative, and marketing expenses for the first quarter of 2011 included approximately $1.2 million in costs related to the Company's proposed acquisition of Cardiogenesis and other business development activities.  General, administrative, and marketing expenses for the first quarter of 2010 included approximately $729,000 in costs related to the write-off of the Company's BioGlue intellectual property rights in Germany.  

Research and development expenses were $1.8 million and $1.3 million for the first quarters of 2011 and 2010, respectively.  Research and development spending in 2011 was primarily focused on PerClot, SynerGraft® tissues and products, and BioFoam® Surgical Matrix.  

Other income was $88,000 for the first quarter of 2011 compared to $650,000 for the first quarter of 2010.  Other income in 2010 consisted primarily of an $817,000 gain on valuation of the derivative related to an investment in common stock.

As of March 31, 2011, the Company had $42.9 million in cash, cash equivalents, and restricted securities, compared to $40.8 m
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SOURCE CryoLife, Inc.
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Related medicine technology :

1. CryoLife Launches BioGlue® Surgical Adhesive in Japan
2. CryoLife Announces Release Date and Teleconference Call Details for 2011 First Quarter Financial Results
3. CryoLife Announces Expiration of Go-Shop Period Related to its Proposed Acquisition of Cardiogenesis Corporation
4. CryoLife Commences Tender Offer for All Outstanding Shares of Cardiogenesis Corporation
5. CryoLife Signs Definitive Agreement to Acquire Cardiogenesis
6. CryoLife Posts Record Annual Revenues of $116.6 Million
7. CryoLife Announces Release Date and Teleconference Call Details for 2010 Fourth Quarter and Year End Financial Results
8. CryoLife to Present at Lazard Capital Markets 7th Annual Healthcare Conference
9. CryoLife Begins Distribution of Blood-Clotting Agent PerClot® in Europe
10. CryoLife Announces Release Date and Teleconference Call Details for 2010 Third Quarter Financial Results
11. CryoLife Receives Japanese Regulatory Approval for BioGlue Surgical Adhesive
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