(RTTNews) -  Osteotech Inc. (OSTE: News ) announced third quarter net loss of $1.9 million, or $0.11 per share, compared with net income of $58 thousand or breakeven in the prior year quarter.

Revenue for the quarter decreased to $23.0 million from $24.1 million in the year ago quarter. The decline in revenue for the recent quarter was primarily driven by the expected reduction in revenue from the services businesses.

Looking ahead, Osteotech updated financial guidance for 2009.
The company lowered 2009 revenue outlook to range between $92 million and $94 million, from previously expected outlook range between $96 million and $100 million.
Net loss for 2009 is now expected to be between $0.32 and $0.36 per share. Earlier,the company expected 2009 net loss of $0.08 and $0.10 per share.

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by RTT Staff Writer

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