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ThermoGenesis (KOOL) Reports Q4/11 and FY11 Results

KOOL reported a Q4/11 net loss of $1.2M or $0.07 per share

KOOL reported a net loss of $1.2M or $0.07 per share, in Q4/11 versus a net loss of $171K, or $0.01 per share, in Q4/10.

KOOL reported Q4/11 net revenues of $5.4M, compared to $7.2M in Q4/10 and $5.2M in Q3/11. Disposable sales were $3M, compared with $4.8M in Q4/10 and $3M in Q3/10. Cost of revenues was $3.5M with a gross profit of $1.866M. SG&A was $2.245M while R&D logged in at $789K for a total operating expense of $3.034M. KOOL realized measurable improvements in gross margins due to operating efficiencies and lower supplier costs, and a more than $1M decline in operating expenses. Shares used in computing net loss per common shares were 16.346M.

FY11: KOOL reported net loss of $2.6M, or $0.17 per share, compared with a net loss of $5.2M, or $0.37 per share, in FY10. For FY11, KOOL reported sales of $23.4M compared with revenues of $23.1M in FY10. Disposable sales were $13.8M, compared with $14.3M for FY10. KOOL reported a $2.6M reduction in annual net loss, or an improvement of 51% versus 2010.

  • KOOL ended FY11 with $12.3M in cash and cash equivalents versus $13.5M at the end of  Q3/11 and $10.7M at FY10’s end. KOOL strengthened its balance sheet through a $4M offering of stock and warrants.

Guidance: Backlog at the end of fiscal 2011 was $1.1M. KOOL stated that it expects revenues for the 1st 2Q’s of FY12 will be relatively consistent with those of Q4/11.