ALACHUA, Fla., Oct. 4 /PRNewswire-FirstCall/ -- Tutogen Medical, Inc. , a leading manufacturer of sterile biological implant products made from human (allograft) and animal (xenograft) tissue, today announced preliminary, unaudited revenue figures for the fourth quarter and fiscal year ended September 30, 2006.
Based on preliminary financial information, the Company expects that its fourth quarter revenue results will continue the trend of increased sequential revenues in each of the previous three quarters of fiscal year 2006. The Company expects revenue for the fourth quarter to be approximately $10.8 million, representing a 36% increase over the comparable quarter of 2005. The Company previously reported revenues of $8.0 million for the first quarter of 2006, $9.1 million for the second quarter, and $10.0 million for the third quarter, which would bring total fiscal year 2006 revenues to approximately $38 million, the highest annual revenues in the Company's history and an increase of 19% over fiscal year 2005. The Company's preliminary revenue figures indicate that revenues from U.S. operations increased by 35% for the fourth quarter and 17% for the fiscal year, while revenues from international operations increased by 37% for the fourth quarter and 24% for the fiscal year, in each case compared to the same periods in 2005.
Commenting on the preliminary, unaudited fourth quarter revenue results, Guy Mayer, Chief Executive Officer of Tutogen Medical, noted, "We have made great progress in fiscal 2006 in entering new markets for hernia repair, in bringing new products to existing markets in dental and spine and advancing our relationships with our distribution partners. As we have previously indicated, we believe that there are great opportunities ahead for Tutogen Medical and we look forward to fiscal year 2007 and beyond."
The revenues announced by the Company today are preliminary and are subject to revision based on management's and the Company's independent auditors' completion of customary quarter and year-end closing and audit procedures. The Company plans to release audited financial results for its 2006 fiscal year in early December, 2006. The preliminary revenue figures noted above are not necessarily indicative of other results, including earnings (losses), for the fiscal quarter and year ended September 30, 2006 that will be reported at that time.
About Tutogen Medical, Inc.
Tutogen Medical, Inc. manufactures sterile biological implant products made from human (allograft) and animal (xenograft) tissue. Tutogen utilizes its Tutoplast Process(R) of tissue preservation and viral inactivation to manufacture and deliver sterile bio-implants used in spinal/trauma, urology, dental, ophthalmology, and general surgery procedures. The Company's Tutoplast(R) products are sold and distributed worldwide by Zimmer Spine and Zimmer Dental, subsidiaries of Zimmer Holdings, Inc., Davol Inc. subsidiary of C.R. Bard Inc., the Mentor Corporation (Mentor), Coloplast Corp., IOP, Inc. and through independent distributors internationally. For more information, visit the Company's Web site at http://www.tutogen.com.
Forward-Looking Statement Disclaimer: This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by use of terms such as "may," "will," "should," "plan," "expect," "anticipate," "estimate," and similar words, although some forward-looking statements are expressed differently. These statements include, but are not limited to, statements regarding the Company's expected revenues for the fourth quarter and fiscal year ended September 30, 2006, sequential revenue growth during fiscal 2006, increases in revenues compared to prior periods, and statements made by the Company's Chief Executive Officer concerning the Company's progress in operations and management's excitement about the Company's future opportunities. Forward-looking statements are based on management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth or implied by forward-looking statements. These and other risks are identified in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2005, as amended. All information in this press release is as of the date hereof, and the Company undertakes no duty to update this information unless required by law.
Contacts: L. Robert Johnston, Jr. Lytham Partners, LLC Chief Financial Officer Joe Diaz Tutogen Medical, Inc. Joe Dorame 386-462-0402 Robert Blum bjohnston@tutogen.com 602-889-9700
Tutogen Medical, Inc.CONTACT: L. Robert Johnston, Jr., Chief Financial Officer of TutogenMedical, Inc., +1-386-462-0402, bjohnston@tutogen.com; or Joe Diaz, JoeDorame, or Robert Blum, all of Lytham Partners, LLC, +1-602-889-9700, forTutogen Medical, Inc.
Web site: http://www.tutogen.com/
