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CryoLife Reports Record Second Quarter Revenues
Date:7/25/2013

ATLANTA, July 25, 2013 /PRNewswire/ --

Second Quarter Financial Highlights:

  • Product revenues grew 9 percent year-over-year to $18.2 million
  • PerClot® revenue grew 36 percent year-over-year
  • Revascularization technologies revenue grew 19 percent year-over-year
  • HeRO® Graft revenue increased to $1.4 million
  • Increased quarterly cash dividend 10 percent to $0.0275 per share
  •  

    Second Quarter Regulatory Highlights:

  • Received conditional approval to begin PerClot clinical trial
  • Received FDA PMA approval for new TMR handpiece
  • Received 510(k) clearance for next generation HeRO device
  • Received CE Mark for HeRO Graft
  •  

    CryoLife, Inc. (NYSE: CRY), a leading tissue processing and medical device company focused on cardiac and vascular surgery, announced today its results for the second quarter and first half of 2013.  Revenues for the second quarter of 2013 increased 1 percent to a second quarter record of $33.5 million compared to $33.2 million for the second quarter of 2012.  Revenues for the first half of 2013 increased 5 percent to a record $69.1 million compared to $65.5 million for the first half of 2012. 

    Steven G. Anderson, president and chief executive officer, said, "We continued to make progress in our strategy to drive growth in our higher margin product segment.  This included year-over-year and sequential revenue growth from our three newest product lines, PerClot, revascularization technologies (TMR) and the HeRO Graft.  During the quarter we also achieved important regulatory milestones for each, including conditional IDE approval from the FDA to begin our PerClot clinical trial, FDA approval for our improved TMR laser handpiece, FDA clearance of our next generation HeRO device, and CE Mark for the current commercial version of the HeRO Graft.  The strong p
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    SOURCE CryoLife, Inc.
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