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CryoLife, Inc. (CRY)
Q2 2012 Earnings Call
July 31, 2012 10:00 a.m. ET
Steve Anderson – President and CEO
Ashley Lee – EVP, CFO and COO
Brooks West – Piper Jaffray
Matt Dolan – Roth Capital Partners
Raymond Myers – The Benchmark Company
Jeffrey Cohen – Ladenburg Thalmann
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.
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.