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

to those in effect during the third quarter of 2008, which reduced revenues by $132,000 for the third quarter of 2009, product revenues would have been $12.9 million.

Product revenues were $39.7 million for the first nine months of 2009 compared to $37.5 million for the first nine months of 2008, an increase of 6 percent. Excluding the effects of changes in foreign currency exchange rates for the first nine months of 2009 compared to those in effect during the third quarter of 2008, which reduced revenues by $804,000 for the first nine months of 2009, product revenues would have been $40.5 million.

Total preservation services and product gross margins were 60 percent and 64 percent for the third quarters of 2009 and 2008, respectively. Total preservation services and product gross margins were 62 percent and 64 percent for the first nine months of 2009 and 2008, respectively.

Preservation services gross margins were 41 percent and 46 percent for the third quarters of 2009 and 2008, respectively. Preservation services gross margins were 43 percent and 46 percent for the first nine months of 2009 and 2008, respectively.

Product gross margins were 82 percent and 83 percent for the third quarters of 2009 and 2008, respectively. Product gross margins were 84 percent for each of the first nine months of 2009 and 2008.

General, administrative, and marketing expenses for the third quarter of 2009 were $12.4 million compared to $12.1 million for the third quarter of 2008. General, administrative, and marketing expenses for the first nine months of 2009 were $37.4 million compared to $36.5 million for the first nine months of 2008. These expenses included personnel costs, advertising, physician education and training, and promotional materials to support current revenue growth and the Company's efforts to increase its preservation service and product offerings.

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SOURCE CryoLife, Inc.
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