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CryoLife Reports Record Revenues for the Second Quarter and First Six Months of 2011
Date:7/28/2011

11.  CryoLife does not undertake to update its forward-looking statements.CRYOLIFE, INC. AND SUBSIDIARIESFinancial Highlights(In thousands, except per share data)Three Months EndedSix Months EndedJune 30,June 30,June 30,June 30,2011201020112010(Unaudited)(Unaudited)Revenues:Preservation services

$14,688

$15,005$30,362

$30,588Products

14,580

14,14629,009

28,101Other

111

112204

291Total revenues29,37929,26359,57558,980Cost of preservation services and products:Preservation services

8,164

9,01317,360

18,411Products

2,162

2,4814,658

5,008Total cost of preservation services and products10,32611,49422,01823,419Gross margin19,05317,76937,55735,561Operating expenses:General, administrative, and marketing

13,659

11,67027,950

25,487Research and development

1,643

1,2403,409

2,532Total operating expenses15,30212,91031,35928,019Operating income3,7514,8596,1987,542Interest expense

37

6567

116Interest income

(3)

(6)(12)

(10)Gain on valuation of derivative

--

(385)--

(1,202)Other (income) expense, net

(62)

111(171)

231Income before income taxes3,7795,0746,3148,407Income tax expense

1,959

2,1482,828

3,547Net income$1,820

$2,926$3,486

$4,860Income per common share:Basic$0.07

$0.10

SOURCE CryoLife, Inc.
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