CryoLife meets strategic targets during second quarter of 2015

CryoLife has announced its financial results for the second quarter of 2015, during which it delivered a revenue total of $35.5 million (22.74 million pounds).

This represented a two percent year-on-year increase, with falling revenues for its CardioGenesis cardiac laser therapy, BioGlue and PerClot offerings offset by rising demand for the HeRO Graft and the recent launches of ProCol and PhotoFix.

The improvement in product revenues was primarily due to changes in distribution models and the strengthening US dollar. Key highlights of the quarter included the expanded indication it received for BioGlue in Japan, as well as the initiation of plans to transition to a direct sales model in France.

For the full year, the company expects a revenue total of between $148.5 million and $150.5 million, which would be a three to four percent increase.

Pat Mackin, chairman, president and chief executive officer of CryoLife, said: "During the quarter, we continued to execute on our growth strategy with solid progress on several of our top organizational objectives."