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ThermoGenesis Reports Record Quarterly Revenues of $7.2 Million; Full Year Revenues Increase 31 Percent
Date:9/9/2008

RANCHO CORDOVA, Calif., Sept. 9 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, today said that revenues in the fourth quarter of fiscal 2008 more than doubled over the same period a year ago. Separately, the Company also announced today that it has signed a distribution agreement with Celling Technologies for ThermoGenesis' MarrowXpress(TM) (MXP(TM)) product line used for isolating stem cells from bone marrow.

Revenues for the quarter ended June 30, 2008, were $7.2 million, a 104 percent increase over revenues of $3.5 million in the fourth quarter a year ago. Disposable revenues in the quarter were $4.2 million, nearly triple the $1.5 million in disposable revenue for the fourth quarter of fiscal 2007.

The Company reported a net loss of $2.5 million, or $0.04 per share, versus a net loss of $2.6 million, or $0.05 per share, in the fourth quarter of fiscal 2007. The results for both periods include stock-based compensation expense of $303,000 and $482,000, respectively.

The Company ended fiscal 2008 with $25.3 million in cash, cash equivalents and short-term investments. Total backlog at the end of the fourth quarter was $2.3 million. This compares with $2.2 million in the same period a year ago.

"ThermoGenesis ended fiscal 2008 in very strong fashion with revenue growth in the quarter driven primarily by demand for our AXP(TM) AutoXpress Platform (AXP(TM)) disposable bagsets and our continued ability to improve manufacturing yields," said Dr. William Osgood, the Company's Chief Executive Officer. "In addition, we benefited from an increase in sales of our BioArchive(R) System having sold a record nine
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SOURCE ThermoGenesis Corp.
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