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CryoLife Second Quarter 2014 Revenues Increase 3 Percent to a Record $34.7 Million
Date:7/24/2014

diluted common share, compared to net income of $1.8 million, or $0.06 per basic and per fully diluted common share, for the second quarter of 2013.  Net income for the second quarter of 2014 benefitted from the reversal of $748,000 in uncertain tax liabilities.Net income for the first six months of 2014 was $3.2 million, or $0.12 per basic and $0.11 per fully diluted common share, compared to net income of $4.0 million, or $0.14 per basic and fully diluted common share, for the first six months of 2013.  Net income for the first six months of 2014 benefitted from the reversal of $748,000 in uncertain tax liabilities.Product revenues were $20.4 million for the second quarter of 2014, up 12 percent from $18.2 million in the second quarter of 2013.  Product revenues were $39.8 million for the first six months of 2014, up 5 percent from $38.0 million in the first six months of 2013.

Surgical sealant and hemostat revenues, which consisted primarily of sales of BioGlue and PerClot, were $16.5 million for the second quarter of 2014 compared to $14.5 million for the second quarter of 2013, an increase of 14 percent.  Surgical sealant and hemostat revenues were $32.7 million for the first six months of 2014 compared to $30.8 million for the first six months of 2013, an increase of 6 percent.  The increase in surgical sealant and hemostat revenues for the second quarter and first six months of 2014 was due to an increase in BioGlue shipments into both domestic and international markets, an increase in average sales prices in domestic markets, and an increase in PerClot revenues.

HeRO Graft revenues were $1.7 million for the second quarter of 2014 compared to $1.4 million in the second quarter of 2013, an increase of 20 percent.  HeRO Graft revenues were $3.3 million for the first six months of 2014 compared to $2.7 million for the first six months of 2013.Revascularization technologies revenues were $2.1 million for the secon
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SOURCE CryoLife, Inc.
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