RANCHO CORDOVA, Calif., Jan. 10 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. , a leading supplier of innovative products and services that process and store adult stem cells for treatment of disease and injury, said today that it expects revenues for the second quarter of fiscal 2008 ended December 31, 2007, will be in the range of $5.3-$5.5 million.
This compares with revenues of $3.7 million for the second quarter of fiscal 2007 and $3.6 million for the first quarter of fiscal 2008.
"We are very pleased with our revenue growth for the second quarter having posted record revenues, sequentially up from our prior quarter as per our guidance. The primary growth drivers during the quarter were increased AXP(TM) AutoXpress Platform (AXP) bag set shipments, improved BioArchive(R) System sales and CryoSeal(R) FS System and disposable sales," noted Dr. William Osgood, the Company's Chief Executive Officer.
"We experienced consistent, high quality production from our AXP supplier during the quarter, and we are on track to bring our second supplier of the AXP bag sets on line to full production capacity this quarter," continued Osgood.
"While discussions with GE Healthcare continue regarding the BioArchive distribution program, we look forward to resolving our concerns with their overall sales effort," Osgood noted.
During the remainder of fiscal 2008, management expects to see continued sequential quarterly revenue growth through a full AXP production ramp up and strong BioArchive sales. Management also expects to see quarterly revenues climb above $7 million in its fourth fiscal quarter of the year, and reconfirms its prior guidance.
"We have made real progress in moving into regenerative medicine with a number of initiatives and expect to provide additional information during calendar 2008," said Osgood.
The company said it will provide complete financial results for the quarter on February 6, 2008.
About ThermoGenesis Corp.
ThermoGenesis Corp. (http://www.thermogenesis.com) is a leader in developing and manufacturing automated blood processing systems and disposable products that enable the manufacture, preservation and delivery of cell and tissue therapy products. These products include:
This press release, including statements regarding financial information for future periods, contain forward-looking statements, and such statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual outcomes to differ materially from those contemplated by the forward-looking statements. Several factors, including timing of FDA approvals, changes in customer forecasts, our failure to meet customers' purchase order and quality requirements, supply shortages, production delays, changes in the markets for customers' products, introduction timing and acceptance of our new products scheduled for fiscal year 2008, and introduction of competitive products and other factors beyond our control, could result in a materially different revenue outcome and/or in our failure to achieve the revenue levels we expect for fiscal 2008. A more complete description of these and other risks that could cause actual events to differ from the outcomes predicted by our forward looking statements is set forth under the caption "Risk Factors" in our annual report on Form 10-K and other reports we file with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward looking statements.
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CONTACT: Investor Relations of ThermoGenesis Corp., +1-916-858-5107,
ir@thermogenesis.com
Web site: http://www.thermogenesis.com/
