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CryoLife's CEO Discusses Q1 2012 Results - Earnings Call Transcript





CryoLife, Inc. (CRY)

Q1 2012 Earnings Call

April 26, 2012 10:00 am ET

Executives

Steve Anderson - President and CEO

Ashley Lee - EVP, CFO and COO

Analysts

Daniel Garofalo - Piper Jaffray

Jeffrey Cohen - Ladenburg Thalmann

Matt Dolan - Roth Capital Partners

Presentation

Operator

Greetings, and welcome to the CryoLife First Quarter 2012 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, sir, you may begin.

Steve Anderson

Good morning everyone. This is Steve Anderson, CryoLife's President and CEO, and welcome you to CryoLife’s first quarter 2012 conference call. With me today is Ashley Lee, the company's Executive Vice President, COO and CFO.

This morning we announced all time record revenues for first quarter $32.3 million and delivered net earnings $991,000 or $0.04. This represents 7% growth over the comparable period a year ago including strong (inaudible) growth, higher margin products.

During the first quarter just concluded continued international sales of our powdered hemostat PerClot (inaudible) also continuing to progress. BioGlue sales were up 14% over the first quarter a year ago primarily as a result of strong sales in Japan of $1.3 million. Cardiogenesis sales were $2.1 million for the first quarter; international revenues were strong up 21% over the same period a year ago.

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