CryoLife Inc. (NYSE:CRY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1%.
CryoLife Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 100% to $0.08 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 9.91% to $35.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CryoLife Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $35.04 million.
Quoting Management: Steven G. Anderson, president and chief executive officer, said, “We are pleased with our first quarter 2013 performance, which included solid top and bottom line results. Revenues grew 10 percent year-over-year to a record $35.5 million, including 20 percent growth in our higher margin products due to our addition of the HeRO Graft in the second quarter of 2012 and due to BioGlue revenues increasing 12 percent. The Company continues to generate cash, which allowed us to continue repurchasing shares and invest in growth opportunities for our business. During the quarter, we received FDA clearance for our next generation HeRO device. Recently we attracted more than 50 healthcare professionals to an educational summit featuring the HeRO Graft, giving us confidence in the long-term outlook for this product line. Overall, we remain well positioned to continue growing our business and leverage our strong cash flow to the benefit of our shareholders.”
Key Stats (on next page)…