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Cardica Announces Fiscal 2009 Fourth Quarter and Year End Financial Results

trategy and capabilities may not be sufficient or successful; and that recent workforce reductions and general business and economic conditions may impair Cardica's ability to market and develop products, as well as other risks detailed from time to time in Cardica's reports filed with the U.S. Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2009. Cardica does not undertake any obligation to update forward-looking statements. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at

                                Cardica, Inc.
                           Statements of Operations
               (amounts in thousands except per share amounts)

                                    Three months ended      Year ended
                                         June 30,            June 30,
                                      2009      2008      2009      2008
                                      ----      ----      ----      ----
                                        (unaudited)         (unaudited)
      Product revenue, net          $1,153    $1,580    $6,798    $4,934
      Development revenue              815     1,216     2,995     2,564
      Royalty revenue from
       related-party                    21        19        85        67
                                        --        --       ---        --
        Total                        1,989     2,815     9,878     7,565

    Operating costs and
      Cost of product
       revenue                       1,230     1,368     5,341     4,808
      Research and
       development                   1,920     2,664     8,217     8,609
      Selling, general and
       administrative                2,344     3,722    13,632    13,175
                                     -----     -----    ------    ------

SOURCE Cardica, Inc.
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