Business & Finance

CryoLife reports profitable third quarter

Published in Medical Letter on the CDC and FDA, December 3rd, 2006

CryoLife, Inc. (CRY), a biomaterials and biosurgical device company, announced that revenues for the third quarter of 2006 increased 22% to $20.0 million compared to $16.5 million in the third quarter of 2005.

Net income in the third quarter of 2006 was $2.0 million, and $0.07 per basic and fully diluted common share, compared to a net loss of ($3.1) million, and ($0.14) per basic and fully diluted common share in the third quarter of 2005.

The third quarter of 2006 included a net $2.0 million gain related to the settlement of an insurance dispute. The third quarter of 2005 included a $741,000 charge related to the adjustment of reserves for product...

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Source: Medical Letter on the CDC and FDA (2006-12-03)

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