CryoLife shares up on street-beating Q2 revenues

CryoLife (NYSE: CRY) beat analysts’ revenue estimate by 11% in the quarter ended June 30, driving shares up $3.75 in mid-afternoon trading.

Atlanta, Ga.-based CryoLife’s revenue hit $68.5 million in the quarter, up from $47.8 million for the same period of 2017. Its bottom line slumped to $226,000 or 0.1¢ per share, well below Wall Street’s projection of 0.8¢ and last year’s results of $3.2 million or0.09¢ per share. Operating expenses for the quarter were up 44% to $40.45 million, cutting into the bottom line. Non-GAAP earnings were 0.10¢ per share.

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