CryoLife (CRY) Tops Q1 EPS by 12c

CryoLife (NYSE: CRY) reported Q1 EPS of $0.03, $0.12 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $71.1 million versus the consensus estimate of $62.98 million.

"Despite the ongoing impact of COVID-19 on our business, we saw our business return to growth on both a GAAP and proforma constant currency basis in the first quarter. Growth was driven by our new product launches outside of the U.S., a recovery in procedure volume in the U.S., an improved JOTEC inventory position, and our international expansion efforts, evidenced by double digit revenue growth in both Asia and Europe," commented Pat Mackin, Chairman, President, and Chief Executive Officer.

"Additionally, we made progress on our regulatory strategy and are on-track to file PMAs for PerClot and PROACT Mitral later in 2021, which should help drive growth in 2022 and 2023. We also made solid progress on enrollment in our PROACT Xa clinical trial and advanced R&D programs that should deliver additional growth opportunities beginning in 2024. We are optimistic that the second half of 2021 will be the start of a prolonged period of growth for CryoLife."

For earnings history and earnings-related data on CryoLife (CRY) click here.

You May Also Be Interested In

• ​Trump said he was unaware of his earnings from crypto
• Freedom Broker Starts Unity Bancorp (UNTY) at Hold
• MotorK names Roy Toren to board as Helen Protopapas resigns