CryoLife Inc. (CRY) Tuesday reported first-quarter profit of $2.2 million or $0.08 per share, up from $1.0 million or $0.04 per share in the same period last year.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.07 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $35.54 million, up from $32.30 million last year. Analysts expected revenues of $35.04 million.
Product revenues improved to $19.8 million from $16.5 million last year.
Gross margins were 65 percent, compared to 66 percent last year.
Looking ahead to the fiscal year 2013, the company projects earnings in the range of $0.25 to $0.28 per share, with revenues in the order of $139.0 million to $143.0 million.
Analysts currently expect the company to report full-year earnings of $0.27 per share on revenues of $141.11 million.
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