CryoLife gains on Q3 prelim beat

CryoLife Inc. (NYSE:CRY) shares ticked up today after it announced preliminary third-quarter sales numbers that beat the consensus forecast on Wall Street. Kennesaw, Ga.-based CryoLife said it expects to post sales of roughly $64.6 million, 4.5% ahead of The Street’s forecast for a $61.8 million top line. “Our third-quarter revenue results were driven by continuing strength in Jotec, which increased 32% on a non-GAAP basis, On-X, which increased 36% year-over-year, and tissue processing, which grew 15%,” president & CEO Pat Mackin said in prepared remarks. CryoLife said it plans to issue its full third-quarter results Oct. 31 after the market’s close. The prelims sent CRY shares up 7.9% to $32.99 apiece today in late-morning trading. The post CryoLife gains on Q3 prelim beat appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Cardiovascular MassDevice Earnings Roundup Wall Street Beat CryoLife Source Type: news