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CryoLife Provides Initial 2010 Financial Guidance
Date:12/1/2009

ATLANTA, Dec. 1 /PRNewswire-FirstCall/ -- CryoLife, Inc. ( CRY), an implantable biological medical device and cardiovascular tissue processing company, announced its initial financial guidance for 2010.

The Company expects total revenues for the full year of 2010 to be between $118.0 million and $123.0 million, which includes between $1.5 million and $2.5 million related to funding received from the Department of Defense in connection with the development of BioFoam. The Company expects tissue processing and BioGlue revenues to increase between mid-single and low-double digits on a percentage basis in 2010 compared to 2009, with HemoStase revenues increasing significantly more than that on a percentage basis.

The Company expects earnings per share of between $0.36 and $0.40 for 2010, which reflects several process improvements, expense control and cost cutting initiatives that the Company implemented during the fourth quarter of 2009, including a reduction in workforce that is expected to reduce costs and expenses in excess of $2 million in 2010. The reduction in workforce and attrition results in an approximate 10% decrease in number of employees since the beginning of 2009. The Company expects to record a charge of approximately $400,000 in the fourth quarter of 2009 in connection with these actions.

Webcast of Presentation at Piper Jaffray Annual Health Care Conference

The Company's presentation today at the Piper Jaffray 21st Annual Health Care Conference at The New York Palace Hotel on December 1, 2009 at 4:30 pm ET will be webcast. Steven G. Anderson, president and chief executive officer of CryoLife, Inc., is scheduled to present.

CryoLife's live presentation may be accessed through its Web site, www.cryolife.com, on the Investor Relations page. An archived copy of the presentation will be available for 30 days on th
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SOURCE CryoLife, Inc.
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