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CryoLife Reports Record Quarterly Revenues in First Quarter of 2012
Date:4/26/2012

, and profitability, our credit facility, which expires in October of 2014, limits our ability to pursue significant acquisitions, our ability to borrow under our credit facility may be limited, continued fluctuation of foreign currencies relative to the U.S. dollar could materially adversely impact our business, rapid technological change could cause our services and products to become obsolete, our CryoValve SGPV post-clearance study may not provide expected results, our investment in ValveXchange, Inc. may become impaired, which could have a material adverse impact on our earnings, and we are dependent on our key personnel.  Our expectations regarding earnings per share for 2012 include anticipated 2012 expenses for research and development and litigation. Actual 2012 expenses for research and development and litigation may vary significantly from our current expectations, based in part on factors beyond our control.  In the event that research and development expenses and/or legal expenses are higher than expected, our actual 2012 earnings per share would be lower than projected.  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, 2011.  CryoLife does not undertake to update its forward-looking statements.CRYOLIFE, INC. AND SUBSIDIARIESFinancial Highlights(In thousands, except per share data)Three Months Ended  March 31,20122011 (Unaudited) Revenues:Preservation services$
5,659

$
5,674Products16,454

14,429Other188

93Total revenues32,30130,196Cost of preservation services and products:Preservation services8,496

9,196Products2,513

2,496Total cost of preservation services
and products 11,00911,692Gross margin21,29218,504Operating expenses:General, administrative, and marketing17,970

14,291Research and development1,693

1,7
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SOURCE CryoLife, Inc.
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