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ThermoGenesis Reports 35 Percent Increase in First Quarter 2011 Revenues, Adds Strategic Advisor and Inks China Distribution Deal With Nanshan Memorial Medical Institute
Date:11/4/2010

RANCHO CORDOVA, Calif., Nov. 4, 2010 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, said today that revenues for the first quarter of fiscal 2011 were $7.0 million, a 35 percent increase over revenues of $5.2 million in the first quarter of fiscal 2010.

In a separate release today, the Company announced it has signed a comprehensive distribution agreement with Nanshan Memorial Medical Institute (Nanshan), a progressive regenerative medicine company covering China and Hong Kong.  Nanshan distributes medical products and has operated multiple, large healthcare facilities including hospitals, stem cell banks and research centers.

The Company also announced it has retained an investment banker for strategic advisory purposes to facilitate potential top line growth and the identification and evaluation of potential business and product acquisitions.

First Quarter ResultsThe Company recorded disposable revenues of $4.4 million in the first quarter of fiscal 2011 versus disposable revenues of $3.0 million in the first quarter of fiscal 2010.

For the quarter ended September 30, 2010, the Company reported a net loss of $68,000, or $0.00 per share, compared to a net loss of $2.2 million, or $0.16 per share, in the first quarter a year ago. Included in the Company's results for the first quarter of fiscal 2011 were approximately $160,000 in severance and restructuring costs and an early termination fee related to a facility lease. The results for the first quarter of fiscal 2011 compare to a net loss of $171,000, or $0.01 per share, in the fourth quarter of fiscal 2010. The per share results for all periods have been adjusted to reflect the impact of the Company's reverse stock split that occurred at the close of business on August 26, 2010.  T
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SOURCE ThermoGenesis Corp.
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