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CryoLife Inc. Message Board

  • dlhild Apr 29, 2014 5:01 PM Flag

    Q1-2014 Conference Call:

    For Q1-2013, Q2-2013, Q3-2013 and Q4-2013 the "gross profit percentage" was 65.5%, 64.2%, 64.2%, and 62.8%, respectively. The Q4-2013 "gross profit percentage" number of 62.8% was a bad historical number. We now have the Q1-2014 "gross margin percentage" and it is still a rather poor 62.9%. CRY needs margin improvement! Hey Steve, CRY needs margin improvement and perhaps a CEO change to boot.

    Always higher sales, but everything else can be a disaster...just give me higher sales, Steve's mantra Operating income down from $3,311,000 to $1,696,000 YoY, largely because of lower margin compression. Good management there Steve.

    Net dilution YoY of 975,000 shares (03/31/13 shares O/S = 27,488,000 -- 03/31/14 shares O/S 28,463,000. Remember when SA was saying management at another company was lousy because they diluted the company? Perhaps SA should look in the mirror. Good management here Steve.

    Revascular Technology revenues fell from $2,128,000 in Q4-2013 to $1,684,000 in Q!-2014, so this product line is starting to look like its going to the glue factory. Good management onle again.

    Tissue generates a lot of revenue, but has such low margins it doesn't generate much cash flow.

    BioGlue: Importantly, sales sales here continue to move slowly higher. The real test will come in 18-24 months when we will be able to tell whether MDCO can start selling quite a bit of ArterX. If ArterX sales cannibalize BioGlue sales or compresses margins, then CRY has a pretty serious problem on their hands.

    SA, at 75, appears to be getting rather "long in the tooth".

    Do your own math calculations. Do your own due diligence.

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