This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: CRY

Our gross margins for the quarter expanded 460 basis points compared to the prior year and our strong balance sheet continues to position us to pursue business development opportunities to potentially accelerate the growth of our business while at the same time repurchasing shares of our common stock.

As I previously mentioned we set an all-time quarterly revenue record of $32.3 million, up 7% year-over-year. The following factors influenced our revenue performance. Total international revenues were up 21% in the first quarter compared to the prior year. Total product segment revenues grew 14% to $16.5 million. Worldwide BioGlue revenues were up 14% for the first quarter. This increase was predominantly driven by volume increases early in Japan due to the recent launch of the products in April 2011. We continue to remain enthusiastic about the opportunity in Japan and have received positive feedback and new orders from our distribution partner.

PerClot sales for the first quarter was $644,000. We continue to experience some headwinds in the EU due to austerity programs and competition but we continue to expect growth in PerClot revenues in international markets over the coming years. This will be driven by geographic expansion in new international markets as we broaden our EU sales focus beyond cardiac and vascular surgery.

We have received positive feedback on the usage of PerClot in the EU for neurosurgery and prostate surgery and believe these are growth opportunities for us. Additionally, we are working towards the potential USPMA approval which we continue to expect no later than 2014. Steve will provide additional details on the PerClot timeline in his remarks.

Residents from the Cardiogenesis product line were $2.1 million for the first quarter. We continue to press forward with our TMR training programs and believe that we’ll see low double-digit growth for this business as we train additional surgeons.

3 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,072.72 +42.51 0.24%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs