RANCHO CORDOVA, Calif., Aug. 6 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products for processing and storing adult stem cells, said today that it expects revenues for the fiscal year ended June 30, 2009, will be in the range of $19.5-$20.0 million, subject to final audit adjustments. The Company said revenues in the fourth quarter of fiscal 2009 were impacted by several factors, including delays in customer capital equipment purchases of BioArchive(R) Systems and reduced sales of AXP(R) AutoXpress(TM) ("AXP") bag sets due to the timing of orders from GE Healthcare. These AXP orders are expected to be recovered over the next two quarters.
The Company said it expects to report a loss for the fourth quarter of fiscal 2009 in the range of $2.8-$3.3 million, subject to final audit and adjustments. Contributing to the fourth quarter results are non-recurring costs of approximately $1.6 million, including non-cash charges of approximately $0.7 million. The non-cash charges primarily include $0.3 million in reserves for costs related to a transition to an upgraded AXP device and write-downs of obsolete inventory at AXP bag set suppliers and $0.2 million of excess surgical wound care inventory reserved in connection with the planned divestiture of the CryoSeal product line.
Also included in non-recurring costs in the fourth quarter are several cash charges totaling approximately $0.9 million. These include approximately $0.2 million to support the release and launch of the Company's new Res-Q(TM) 60 BMC ("Res-Q") System, $0.4 million in costs related to AXP device and disposable design enhancements and the write down of excess inventories at former AXP manufacturers, and $0.2 million
|SOURCE ThermoGenesis Corp.|
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