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ThermoGenesis Reports Third Quarter Fiscal 2011 Results; Major Progress Achieved in China & India
Date:5/5/2011

RANCHO CORDOVA, Calif., May 5, 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 third quarter and first nine months of fiscal 2011.

For the quarter ended March 31, 2011, the Company reported revenues of $5.2 million, an increase of eight percent versus revenues of $4.8 million in the third quarter a year ago and $5.9 million in the prior quarter. Disposable revenues in the third quarter of fiscal 2011 were $3.0 million, consistent with those in the third quarter of fiscal 2010.

ThermoGenesis reported a net loss of $845,000, or $0.06 per share, in the third quarter of 2011 versus a net loss of $1.4 million, or $0.10 per share, in the same period a year ago, a reduction of 40 percent. ThermoGenesis ended the third quarter of 2011 with $13.5 million in cash and cash equivalents versus $10.2 million at the end of the second quarter of fiscal 2011 and $10.7 million at the end of fiscal 2010. The cash balance at the end of the third quarter of 2011 reflected approximately $4.0 million in net proceeds from an offering of shares and warrants completed in March 2011. Backlog at the end of the third quarter of fiscal 2011 was $900,000.

For the first nine months of fiscal 2011, ThermoGenesis reported revenues of $18.0 million compared with revenues of $15.9 million in the same period a year ago, an increase of 13 percent. Disposable revenues in the first nine months of fiscal 2011 were $10.8 million, a 13 percent increase over disposable revenues of $9.6 million in the same period a year ago. The Company reported a net loss of $1.4 million, or $0.10 per share, compared with a net loss of $5.0 million, or $0.36 per share, in the first nine months of fiscal 2010, a reduction of 72 percent.

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SOURCE ThermoGenesis Corp.
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