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ThermoGenesis Reports Second Quarter Fiscal 2012 Results
Date:2/9/2012

RANCHO CORDOVA, Calif., Feb. 9, 2012 /PRNewswire/ -- ThermoGenesis Corp. (NASDAQ: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, today reported results for the second quarter of fiscal 2012.

For the quarter ended December 31, 2011, the Company reported sales of $4.8 million. This compares to revenues of $5.9 million in the second quarter a year ago and $4.9 million in the prior quarter. Disposable sales in the second quarter of fiscal 2012 were $3.5 million, compared to $3.4 million a year ago and $3.5 million in the prior quarter. ThermoGenesis reported a net loss of $1.3 million, or $0.08 per share, in the second quarter of fiscal 2012, compared to a net loss of $486,000, or $0.03 per share, in the same period a year ago.

"Although our BioArchive sales were noticeably affected by the continuing debt crisis versus the quarter a year ago, we are pleased with our progress along the strategic front, having signed a major development and distribution deal with Arthrex, and having published positive clinical data regarding the safety and efficacy of our Res-Q bone marrow concentration system," said Matthew Plavan the Company's Chief Executive Officer.

The Company ended the quarter with $8.7 million in cash compared with $12.3 million at the end of fiscal 2011.  

For the first six months of fiscal 2012, ThermoGenesis reported revenues of $9.6 million compared to revenues of $12.9 million in the first six months of fiscal 2011. The Company reported a net loss of $2.5 million, or $0.15 per share, compared to a net loss of $554,000, or $0.04 per share, in the same period a year ago.

Plavan noted the Company had recently realized several important milestones, including:

  • Signing a five-year collaboration with Arthrex, Inc., under which ThermoGenesis, in consultation with Arthrex's on staff
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  • SOURCE ThermoGenesis Corp.
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