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CryoLife's CEO Discusses Q2 2012 Results - Earnings Transcript

Start Time: 10:00

End Time: 10:43

CryoLife, Inc. (CRY)

Q2 2012 Earnings Call

July 31, 2012 10:00 a.m. ET

Executives

Steve Anderson – President and CEO

Ashley Lee – EVP, CFO and COO

Analysts

Brooks West – Piper Jaffray

Matt Dolan – Roth Capital Partners

Raymond Myers – The Benchmark Company

Jeffrey Cohen – Ladenburg Thalmann

Presentation

Operator

Greetings and welcome to the CryoLife Second 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, Mr. Steve Anderson, President and CEO for CryoLife. Thank you. You may begin.

Steve Anderson

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

During the second quarter we continued to execute on our growth strategy and delivered solid top and bottom line financial results. We achieved quarterly revenues of 33.2 million, an increase of 13% over the same quarter last year and up 3% quarter-to-quarter.

Our revenue growth was driven by continuing excellent sales of BioGlue in Japan, a strong quarter for Allographenes and valves, a full-quarter of Cardiogenesis sales compared to the previous year is partial quarter and the addition of $635,000 of HeRO Graft sales due to our recent acquisition of Hemosphere.

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