Osteotech Reports Second Quarter 2010 Financial Results

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OSTEOTECH, INC. and SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars in thousands, except per share data)
(unaudited)
Three Months Six Months
Ending June 30, Ending June 30,
2010 2009 2010 2009
Revenue $   23,997 $      23,471 $      46,524 $      47,402
Cost of revenue 11,922 11,940 23,479 23,904
Gross profit 12,075 11,531 23,045 23,498
Marketing, selling and
general and administrative expenses 10,390 10,768 21,093 22,386
Research and development expenses 1,051 1,998 2,259 3,651
11,441 12,766 23,352 26,037
Operating income (loss) 634 (1,235) (307) (2,539)
Interest expense, net (316) (355) (655) (709)
Other (147) 131 (334) 48
Income (loss) before income taxes 171 (1,459) (1,296) (3,200)
Income tax provision (benefit) 56 (255) 172 (200)
Net income (loss) $        115 $      (1,204) $      (1,468) $      (3,000)
Income (loss) per share:
Basic $       0.01 $        (0.07) $        (0.08) $        (0.17)
Diluted $       0.01 $        (0.07) $        (0.08) $        (0.17)
Shares used in computing earnings (loss) per share:
Basic 18,069,937 18,004,217 18,098,827 17,882,059
Diluted 18,201,915 18,004,217 18,098,827 17,882,059

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