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Kensey Nash Reports Fourth Quarter and Full Fiscal Year 2010 Financial Results
Date:8/23/2010

EXTON, Pa., Aug. 23 /PRNewswire-FirstCall/ -- Kensey Nash Corporation (Nasdaq: KNSY), a medical device company primarily focused on regenerative medicine for a wide range of medical procedures, today reported the results for its three months and fiscal year ended June 30, 2010.  

Fourth Quarter Snapshot and Recent Developments

  • Revenue of $21.9 million for the quarter, exceeding the high end of the Company's previous guidance range of $21.4-$21.8 million.
  • Record net sales of $15.1 million, exceeding previous guidance of $14.5-$14.7 million.
  • Royalty income of $6.8 million, below previous guidance of $6.9-$7.1 million.
  • Record diluted EPS and adjusted diluted EPS* of $0.60 and $0.54, respectively, exceeding the high end of previous guidance of $0.51-$0.53.
  • EBITDA* of $11.0 million.
  • Operating margin of 42%.
  • Operating cash flow of $10.9 million.
  • U.S. launch of first ECM product, the XCM Biologic™ Tissue Matrix, by strategic partner Synthes.
  • Received 510(k) clearance from the U.S. Food and Drug Administration for its second extracellular matrix (ECM) product, the Meso BioMatrix™ product.
  • New two-year collagen supply agreement with St. Jude Medical.
  • ECM strategic distribution agreement with Arthrex for sports medicine tendon repair and small joint surgeries.

  • Full Year Fiscal 2010 Financial Overview

  • Revenue of $80.6 million, meeting the high end of the Company's previous guidance range of $80.2-$80.6 million.
  • Net sales of $54.3 million, exceeding previous guidance of $53.6-$53.8 million
  • Royalty income of $26.4 million, below previous guidance of $26.5-$26.7 million
  • Record full fiscal year diluted EPS and adjusted diluted EPS* of $1.78 and $1.85, respectively, exceeding the high end of previous guidance for diluted EPS and
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