CryoLife, Inc. Q1 2010 Earnings Call Transcript

CryoLife, Inc. (CRY)

Q1 2010 Earnings Conference Call

April 28, 2010 10:00 AM ET

Executives

Steven Anderson – Chairman, President and CEO

Ashley Lee – EVP, COO and CFO

Analysts

Matt Dolan – Roth Capital Partners

Greg Brash – Sidoti & Company

Raymond Myers – The Benchmark Company

Presentation

Operator

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Greetings, and welcome to the CryoLife first quarter 2010 financial conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation.

(Operator Instructions). As a reminder this conference is being recorded. It is now my pleasure to introduce your host Steve Anderson, President and CEO for CryoLife. Thank you Mr. Anderson you may begin. 

Steven Anderson 

Good morning everyone, this is Steve Anderson CryoLife’s CEO and I would like to welcome you to our first quarter 2010 earnings conference call. With me today is Ashley Lee the company's Executive VP, COO and CFO. We were very pleased to release our earnings report today as we reported record quarterly revenues of $29.7 million and 11% increase over the same period a year ago and earnings of $1.9 million or $0.07 per share. Revenues were up in all parts of our business. It was an all time record quarter for vascular tissue and our best first quarter record for BioGlue and BioFoam combined. This is the 13th consecutive quarter of profitability for the company. The agenda for today's call is as follows. Ashley will comment in detail on the company's operating results for the first quarter. He will comment on our significant cash position and how we intend to use that cash to enhance shareholder value.