ALACHUA, Fla., Feb. 6 /PRNewswire-FirstCall/ -- Tutogen Medical, Inc. (Amex: TTG), a leading manufacturer of sterile biological implant products made from human (allograft) and animal (xenograft) tissue, today announced financial results for the first quarter of fiscal year 2008 ended December 31, 2007.
Highlights for the first quarter when compared to the previous year's
first quarter include:
-- Total revenues increased 30%;
-- Revenues of dental products increased 27%;
-- Surgical specialty product revenues increased 73%;
-- U.S. revenues increased 30%;
-- International revenues increased 32%;
-- Excluding merger related costs, net income for the quarter would have
been $343,000 or $0.02 per fully diluted share, compared to a net
income of $361,000, or $0.02 per fully diluted share for the same
period last year.
As previously reported, on November 12, 2007, the Company entered into a merger agreement with Regeneration Technologies, Inc. The merger agreement provides that the Company's stockholders will receive 1.22 shares of Regeneration Technologies common stock for each share of the Company's stock that they own. Upon completion of the merger, the Company's stockholders will own approximately 45% of the combined company, on a fully diluted basis. The proposed merger is currently estimated to be completed later this month.
For the first quarter of fiscal year 2008, the Company reported
revenues of $15.0 million compared to $11.5 million in the first quarter of
the previous year; an increase of 30%. The gross margin for the first
quarter was 54%, up from 50% in the fourth quarter. The first quarter gross
margin of 54% was less than the g
|SOURCE Tutogen Medical, Inc.|
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