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MiMedx Announces Record Second Quarter Results
Date:7/28/2014

der adjusted measures in addition to, and not as a substitute for, or superior to, financial performance measures prepared in accordance with GAAP.

Revenue Breakdown
The Company distinguishes and reports revenue in two categories: (1) Wound Care and (2) Surgical, Sports Medicine and OEM applications.  Revenue for the Company's Wound Care category comprises both the sheet and powdered form.  The "Surgical, Sports Medicine and Original Equipment Manufacturer ("OEM") category includes primarily AmnioFix® sales for orthopedic, soft tissue repair, surgical, dental and ophthalmic uses.  This category also includes grafts in both sheet and micronized form.  In the second quarter of 2014, Wound Care represented 81% of revenue, and Surgical, Sports Medicine and OEM represented 19% of revenue.

The Company also provides a revenue breakdown in terms of customer type, distinguishing between government and commercial accounts.  Government accounts include the Veterans Administration as well as the Department of Defense and Indian Health Services. Commercial sales include sales through distributors, OEM sales and direct sales to non-government accounts.  For the quarter ended June 30, 2014, Commercial sales represented 65% and Government sales represented 35% of revenue.

Outlook for Third Quarter and Full Year 2014
The Company estimates third quarter of 2014 revenue to be in the range of $30 million to $32 million.  MiMedx also expects to record an operating profit for the third quarter of 2014.  The Company has increased its previously published guidance for full year 2014, and now expects revenue to be in the range of $110 million to $115 million for full year 2014.

Earnings Call
MiMedx management will host a live broadcast of its second quarter results conference call on Tuesday, July 29, 2014, beginning at 10:30 a.m. eastern time.  A listen-only simulcast of the MiMedx Group conference call
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SOURCE MiMedx Group, Inc.
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