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

nd marketing expenses for the second quarter of 2013 were $16.9 million compared to $13.9 million for the second quarter of 2012.  General, administrative, and marketing expenses for the second quarter of 2013 included expanded sales staff due to the acquisition of Hemosphere in May 2012, increased marketing costs to support revenue growth, increased general and administrative costs due to added personnel, and the medical device excise tax.  The medical device excise tax, which began in 2013 as part of the Affordable Care Act, was $254,000 in the second quarter of 2013.
General, administrative and marketing expenses for the second quarter of 2012 included a net benefit of $2.2 million related to legal expenses and settlement costs, net of insurance reimbursements and settlement awards, and $1.0 million in business development and integration charges primarily related to the acquisition of Hemosphere. 

General, administrative, and marketing expenses for the first halves of 2013 and 2012 were $34.9 million and $31.8 million, respectively.  General, administrative, and marketing expenses for the first half of 2013 included increased sales force headcount due to the acquisition of Hemosphere in May 2012, increased marketing costs to support revenue growth, increased general and administrative costs due to added personnel, and the medical device excise tax.  The medical device excise tax, which began in 2013 as part of the Affordable Care Act, was $502,000 in the first half of 2013.
General, administrative and marketing expenses for the first six months of 2012 included a net benefit of $424,000 related to legal expenses and settlement costs, net of insurance reimbursements and settlement awards, and $1.1 million in business development and integration charges primarily related to the acquisition of Hemosphere.

Research and development expenses were $1.7 million for the second quarters of 2013 and 2012, respectively.  Re
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SOURCE CryoLife, Inc.
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