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

$4.0 million and $5.0 million in 2011, which primarily reflects disposable hand piece and service revenues.  Additionally, the transaction is expected to be accretive to CryoLife's revenue growth rate and gross margin and to be either break-even or slightly accretive to diluted earnings per share, excluding acquisition related charges and integration costs incurred to date and expected to be incurred during the remainder of 2011.  These excluded charges and costs include the increase to cost of goods sold related to the step up in inventory values required under purchase accounting.  The Company expects the total of these charges to be between $0.06 per share and $0.08 per share for the full year of 2011, including charges of approximately $0.03 per share incurred in the first quarter of this year, as discussed above.

Income Tax Effect:

The Company expects the effective income tax rate for the full year of 2011 to be in the mid 30 percent range, assuming the Cardiogenesis transaction does not close.  If the Company successfully completes the Cardiogenesis acquisition, the Company expects the effective income tax rate to be significantly higher in the second quarter of this year as compared to the first quarter of this year due to the tax treatment of non-deductible acquisition related charges, which will significantly increase the effective tax rate for the full year.  

The Company's financial guidance for the full year of fiscal 2011 is subject to the risks described below in the last paragraph of this press release.

Webcast and Conference Call InformationThe Company will hold a teleconference call and live webcast today at 10:00 a.m. Eastern Time to discuss the results followed by a question and answer session hosted by Mr. Anderson.

To listen to the live teleconference, please dial 201-689-8345 a few minutes prior to 10:00 a.m.  A replay of the teleconference will be available from April 28 thro
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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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