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CryoLife Reports Record Quarterly Revenues of $28.2 Million
Date:10/29/2009

Preservation service revenues for the third quarter of 2009 increased 6 percent to $15.0 million compared to $14.2 million for the third quarter of 2008. The increase in preservation service revenues was primarily due to increased shipments of cardiac and vascular tissues for the third quarter of 2009 compared to the third quarter of 2008.

Preservation service revenues for the first nine months of 2009 increased 3 percent to $42.7 million compared to $41.3 million for the first nine months of 2008. Excluding orthopaedic tissue processing revenues of $148,000 and $662,000 for the first nine months of 2009 and 2008, respectively, preservation service revenues increased 5 percent to $42.5 million for the first nine months of 2009 compared to $40.7 million for the first nine months of 2008. The increase in preservation service revenues was primarily due to increased revenues from vascular tissue for the first nine months of 2009 compared to the first nine months of 2008.

Revenues from the distribution of CryoValve® SG pulmonary heart valves and CryoPatch® SG pulmonary cardiac patches increased to $1.9 million for the third quarter of 2009 from $1.7 million for the third quarter of 2008, representing 26 percent of the Company's cardiac tissue processing revenues for the third quarter of 2009. Revenues from the distribution of CryoValve SG and CryoPatch SG increased to $4.6 million for the first nine months of 2009 from $3.4 million for the first nine months of 2008, representing 24 percent of the Company's cardiac tissue processing revenues for the first nine months of 2009.

Product revenues, which consists primarily of sales of BioGlue® Surgical Adhesive and HemoStase(TM), were $12.8 million for the third quarter of 2009 compared to $12.2 million for the third quarter of 2008, an increase of 5 percent. Excluding the effects of changes in foreign currency exchange rates for the third quarter of 2009 compared
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SOURCE CryoLife, Inc.
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