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

illion at December 31, 2010.  Of this $42.9 million, $1.6 million was received from the U.S. Department of Defense as advance funding for the development of BioFoam protein hydrogel technology, and $5.3 million was designated as restricted securities primarily due to a financial covenant requirement under the Company's credit agreement.  The Company's net cash flows provided by operations were $3.9 million for each of the first quarters of 2011 and 2010.  

2011 Financial Guidance Company Guidance without Acquisition of Cardiogenesis:

The Company expects total revenues for the full year of 2011 to be near the lower end of its previously issued range of between $120.0 million and $126.0 million, which includes revenues of between $500,000 and $1.0 million related to the use of funds received from the U.S. Department of Defense in connection with the development of BioFoam.  The Company expects tissue processing revenues to increase between low-single and mid-single digits on a percentage basis in 2011 compared to 2010, BioGlue and BioFoam revenues to increase in low-single to mid-single digits on a percentage basis in 2011 compared to 2010, with revenues from powdered hemostats, including PerClot and HemoStase, to be between $5.0 million and $6.0 million.  Research and development expenses are expected to be between $10.0 million and $12.0 million in 2011.  The Company expects earnings per share of between $0.23 and $0.27 in 2011.  Excluding expenses related to the proposed acquisition of Cardiogenesis and other business development charges of approximately $0.03 per share incurred in the first quarter of 2011, the Company expects non-GAAP earnings per share of between $0.26 and $0.30 in 2011.  

Company Guidance with Cardiogenesis:

If the Company successfully completes the previously announced acquisition of Cardiogenesis in May, it expects revenues from the Cardiogenesis product line to be between
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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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