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CryoLife CEO Discusses Q4 2010 Results - Earnings Call Transcript

CryoLife Inc. (CRY)

Q4 2010 Earnings Conference Call

February 17, 2011, 10:00 am ET

Executives

Steve Anderson – President and CEO

Ashley Lee – EVP, COO & CFO

Analysts

Matt Palmer – Roth Capital Partners

Raymond Myers – The Benchmark Company

Joseph Munda – Sidoti & Company

Tim Lee – Piper Jaffray

Presentation

Operator

Greetings, and welcome to the CryoLife fourth quarter and year end 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 Instruction) 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.

Steve Anderson

Good morning everyone. This is Steve Anderson, CryoLife’s CEO, and I would like to welcome you to CryoLife’s year end conference call. With me today is Ashley Lee, the company’s Executive Vice President, COO and CFO.

This morning we announced record revenues for CryoLife of $116.6 million and earnings of $0.14 per share. Ashley will discuss the revenues and earnings in more detail in just a few minutes. The fourth quarter of 2010 was a very busy time for CryoLife management. As you will recollect we closed on a manufacturing and distribution agreement with Starch Medical for a powdered hemostat product that they have been marketing in Europe. This assures our participation in a worldwide market estimated to be about $2 billion. This manufacturing and distribution agreement gives us access to all medical specialties in our territory. I will comment more completely on this in a few minutes.

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