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CRY - CryoLife Inc News Story

$21.06 0.6  3.0%

Last Trade - 07/08/20

Sector
Healthcare
Size
Mid Cap
Market Cap £610.9m
Enterprise Value £740.8m
Revenue £197.5m
Position in Universe 2543rd / 6395

BRIEF-Cryolife Expects Q1 2020 Revenue To Be About $65.5 Mln

Wed 1st April, 2020 9:58pm
April 1 (Reuters) - CryoLife Inc  CRY.N :
    * SEES Q1 2020 REVENUE ABOUT $65.5 MILLION
    * AS OF MARCH 31, 2020 CRYOLIFE HAS OVER $60 MILLION IN CASH
AND
CASH EQUIVALENTS
    * EXPECTS Q1 2020 REVENUES TO BE APPROXIMATELY $65.5 MILLION
COMPARED TO Q1 2020 REVENUE GUIDANCE OF $67 MILLION TO $69
MILLION
    * IS WITHDRAWING ITS PREVIOUSLY ANNOUNCED Q1 AND FULL YEAR
2020
FINANCIAL GUIDANCE WHICH WAS ISSUED ON FEBRUARY 13, 2020
    * CRYOLIFE - DELAYING CERTAIN RESEARCH AND
DEVELOPMENT,CLINICAL
RESEARCH PROJECTS THAT ARE NOT EXPECTED TO GENERATE REVENUE
BEFORE 2023 BUT CONTINUING TO PURSUE THOSE THAT WILL
    * ARE WELL POSITIONED FOR LONG TERM
    * WHILE FULL SHORT TERM IMPACT ON US OF PANDEMIC IS NOT
KNOWN
    * IS OPERATING ALL THREE OF ITS MANUFACTURING SITES AT NEAR
FULL
PRODUCTION
    * CRYOLIFE - ON MARCH 26,BORROWED ENTIRE AVAILABLE AMOUNT
UNDER
ITS $30 MILLION REVOLVING CREDIT FACILITY AS A PRECAUTIONARY
MEASURE TO INCREASE CASH
    * HAS TAKEN PRE-EMPTIVE STEPS TO CURTAIL SPENDING

Source text for Eikon:  ID:nPnnjMRga 
Further company coverage:  CRY.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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