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ThermoGenesis Reports Second Quarter 2011 Results; Increased Presence in China
Date:2/10/2011

RANCHO CORDOVA, Calif., Feb. 10, 2011 /PRNewswire/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, reported results for the second quarter of fiscal 2011.

For the quarter ended December 31, 2010, the Company reported revenues of $5.9 million, which compares with revenues of $6.0 million in the second quarter a year ago. Disposable revenues in the second quarter of fiscal 2011 were $3.4 million compared to $3.5 million in the same period a year ago.

ThermoGenesis reported a net loss of $486,000, or $0.03 per share, for the second quarter of 2011, versus a net loss of $1.5 million, or $0.10 per share, in the same period a year ago. Included in the Company’s results for the second quarter of 2011 are $200,000 in strategic advisory fees and approximately $100,000 in non-cash, stock-based compensation expenses attributable to restricted stock related to a distribution agreement with Nanshan Memorial Medical Institute (“Nanshan”). ThermoGenesis ended the second quarter of 2011 with $10.2 million in cash and cash equivalents. This is approximately the same cash balance as in the prior quarter and compares with a balance of $10.7 million at the end of fiscal 2010. Backlog at the end of the second quarter of 2011 was approximately $750,000.

For the first six months of fiscal 2011, revenues were $12.9 million, an increase of 16 percent versus revenues of $11.1 million in the same period a year ago. ThermoGenesis reported a net loss of $554,000, or $0.04 per share, in the first six months of 2011, compared to a net loss of $3.7 million, or $0.26 per share, in the same period a year ago.

Contributing to the Company’s improved bottom line performance in the second quarter of 2011 versus the same period in the prior year were increased gross margins, which wer
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SOURCE ThermoGenesis Corp.
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