Key Developments: CryoLife Inc (CRY)
6.34USD
17 May 2013
$0.03 (+0.48%)
$6.31
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$7.27
$4.19
Latest Key Developments (Source: Significant Developments)
CryoLife Inc Reaffirms FY 2013 Guidance-Conference Call
CryoLife Inc reaffirmed fiscal 2013 guidance and expects revenues to be between $139 million and $143 million and expect earnings per share (EPS) for fiscal 2013 to be between $0.25 and $0.28. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $142 million and EPS of $0.27 for fiscal 2013. Full Article
CryoLife Inc Receives FDA Clearance For Next Generation HeRO Device
CryoLife Inc announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance for a next generation HeRO (Hemodialysis Reliable Outflow) device. The HeRO device is the subcutaneous AV access solution clinically proven to maintain long-term access for end-stage renal disease (ERSD) hemodialysis patients with central venous stenosis. CryoLife anticipates launching the next generation HeRO device during the fourth quarter of 2013 following scale up and validation of the manufacturing process. The current generation includes a standard ePTFE graft, which requires the placement of a temporary dialysis catheter for approximately 2-3 weeks until the graft incorporates into the surrounding tissue and can be used for hemodialysis access. By design, early access grafts allow access in a matter of days, thus eliminating the need for an accompanying dialysis catheter. Full Article
CryoLife Inc Expands Stock Repurchase Program
CryoLife Inc announced that its Board of Directors authorized the Company's purchase of $15 million of its common stock through October 31, 2014. Under this program, the purchase of shares can be made from time to time in the open market or through privately negotiated transactions on such terms as management deems appropriate, and will be dependent upon various factors, including price, regulatory requirements and other market conditions. The Company may enter into agreements from time to time that provide for common stock repurchases during Company announced "blackout periods of such securities in compliance with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934. Pursuant to its credit facility the Company is entitled to repurchase up to approximately $10.2 million of its common stock without obtaining lender's consent. Full Article
CryoLife Inc Issues FY 2013 Guidance; EPS Guidance Below Analysts' Estimates
CryoLife Inc announced that for fiscal 2013, it expects total revenues to be between $139.0 million and $143.0 million and earnings per share (EPS) of between $0.25 and $0.28 in 2013, which includes the increased research and development expenses described above and the anticipated impact of the U.S. medical device excise tax implemented in 2013 as part of the Affordable Care Act. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $142.4 million and EPS of $0.31 for fiscal 2013. Full Article
CryoLife Inc Announces Quarterly Cash Dividend For First Quarter 2013
CryoLife Inc announced that its Board of Directors has approved a quarterly cash dividend for the first quarter 2013 of $0.025 per share of common stock outstanding. The quarterly cash dividend of $0.025 per share will be paid on March 21, 2013 to all common stockholders of record as of March 14, 2013. The ex-dividend date for the quarterly dividend is March 12, 2013. Full Article
CryoLife Inc Receives Regulatory Approval for BioFoam in Europe
CryoLife Inc announced that it has received regulatory approval in Europe to market its BioFoam Surgical Matrix as an adjunct to hemostasis in cardiovascular surgery when cessation of bleeding by ligature or other conventional methods is ineffective or impractical. BioFoam has previously been approved in Europe as an adjunct to hemostasis in the sealing of abdominal parenchymal tissues (liver and spleen) when cessation of bleeding by ligature or other conventional methods is ineffective or impractical. Full Article
CryoLife Inc Announces Quarterly Cash Dividend For Fourth Quarter
CryoLife Inc announced that Board of Directors has approved a quarterly cash dividend for the fourth quarter 2012 of $0.025 per share of common stock outstanding. The quarterly cash dividend of $0.025 per share will be paid on December 21, 2012 to all common stockholders of record as of December 14, 2012. The ex-dividend date for the quarterly dividend is December 12, 2012. Full Article
CryoLife Inc Raises Low End Of Prior FY 2012 Revenue Guidance To A Range In Line With Analysts' Estimates; Raises FY 2012 EPS Guidance
CryoLife Inc announced that for fiscal 2012, it expects total revenues for the full year of 2012 to be between $131.0 million and $133.0 million. This compares with prior revenue guidance of $129.0 million to $133.0 million. The Company expects earnings per share (EPS) of between $0.25 and $0.27. This compares with prior GAAP earnings per share (EPS) guidance of $0.20 to $0.23. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $132 million and EPS of $0.25 for fiscal 2012. Full Article
CryoLife Inc Announces Initiation Of Quarterly Cash Dividend
CryoLife Inc announced that its Board of Directors has approved the initiation of a quarterly cash dividend of $0.025 per share of common stock outstanding. The initial quarterly cash dividend of $0.025 per share will be paid on September 21, 2012 to all common stockholders of record as of September 14, 2012. The ex-dividend date for the quarterly dividend is September 12, 2012. Full Article
CryoLife, Inc. Raises FY 2012 Guidance
CryoLife, Inc. announced that for fiscal 2012, it expects total revenues to be between $129.0-$133.0 million, which include revenues of approximately $500,000 related to the use of funds received from the U.S. Department of Defense in connection with the development of BioFoam. This compares with prior fiscal 2012 revenue guidance of $126.0-$129.0 million and earnings per share (EPS) is expected between $0.20-$0.23 in fiscal 2012, which includes a non-recurring net benefit of $424,000 related to litigation settlements and expenses, net of insurance reimbursements, and estimated non-recurring transaction and integration charges of approximately $2.7 million, of which approximately $1.6 million is expected to occur in the second half of 2012. This compares with prior fiscal 2012 GAAP earnings per share guidance of $0.14-$0.18. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $131.9 million for fiscal 2012. Full Article
FDA warns CryoLife on manufacturing practices
Feb 1 - CryoLife Inc said it received a warning letter from U.S. health regulators after they determined the company failed to adequately address earlier concerns over the manufacturing of its medical devices and other products.
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