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CryoLife Reports Financial Results for the Third Quarter and First Nine Months of 2011
Date:10/27/2011

key personnel. These risks and uncertainties include the risk factors detailed in our Securities and Exchange Commission filings, including our Form 10-K for the year ended December 31, 2010, our Form 10-Q for the quarter ended March 31, 2011, and our Form 10-Q for the quarter ended June 30, 2011.  CryoLife does not undertake to update its forward-looking statements.CRYOLIFE, INC. AND SUBSIDIARIES
Financial Highlights
(In thousands, except per share data)Three Months EndedNine Months EndedSeptember 30,September 30,2011201020112010(Unaudited)

(Unaudited)Revenues:Preservation services

$ 14,656

$ 15,111

$ 45,018

$ 45,699Products

14,923

13,175

43,932

41,276Other

75

157

279

448Total revenues29,65428,44389,22987,423Cost of preservation services and products:Preservation services

8,349

8,911

25,709

27,322Products

2,393

4,310

7,051

9,318Total cost of preservation services and products10,74213,22132,76036,640Gross margin18,91215,22256,46950,783Operating expenses:General, administrative, and marketing

14,726

11,376

42,676

36,863Research and development

1,690

1,590

5,099

4,122Acquired in-process research and development

--

3,513

--

3,513Total operating expenses16,41616,47947,77544,498Operating income (loss)2,496(1,257)8,6946,285Interest expense

49

29

116

145Interest income

(1)

(6)

(13)

(16)Gain on valuation of derivative

--

(143)

--

(1,345)Other than temporary investment impairment

--

3,638

--

3,638Other expense (income), net

159

(187)

(12)

44Income (loss) before income taxes2,289(4,588)8,6033,819Income tax expense (benefit)

270

(1,557)

3,0
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SOURCE CryoLife, Inc.
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