TUTOGEN REPORTS 1ST QTR FY 2003 REVENUES INCREASED
31%.
Tutogen Medical, Inc., (AMEX: TTG), West Paterson, N.J. has
reported first quarter FY 2003 financial results.
For the three months ended December 31, 2002 revenues increased
over 31% to $6.6 million from $5.0 million for the comparable period of
fiscal 2001. The increase in revenue for the period was attributable to
the increasing demand for the company's TUTOPLAST(R) PROCESSED
sterile biological implants for spinal and dental repair. These
Tutoplast(R) specialty implants, known by their trade names, Puros(TM),
Symmetry(TM), and PLIF(TM) Allograft System, are distributed exclusively
by the company's marketing partner CenterPulse (NYSE: CEP) through
their CenterPulse Spine-Tech and CenterPulse Dental divisions. Gross
margins for the quarter exceeded 50%. Cash flow was negatively impacted
by the creation of additional inventory to meet increasing demand and
the launch of the company's new Ligatech(TM) line of sterile
biologic implant devices for use in the field of Sports Medicine.
Manfred Krueger, CEO of Tutogen commented, "We continue to see
improvement in revenue growth in all of our markets. The development of
our independent distributor network has begun to contribute to this
improved revenue picture. We have now delivered four consecutive
quarters of profitability and our current quarter is off to a good
start. The recent addition of six independent distributors and the
introduction of several new products should contribute to Tutogen
achieving its growth targets for the current year and beyond."
Tutogen Medical, Inc. manufactures sterile biological implant
products made from human (allograft) and animal (xenograft) tissue.
Tutogen utilizes its Tutoplast Process (R) of tissue preservation and
viral inactivation to manufacture and deliver sterile bio-implants used
in spinal/trauma, urology, dental, ophthalmology, and general surgery
procedures. Tutogen's products can be stored at room temperature
and have a shelf life of 5 years. The company's Tutoplast(R)
products are distributed worldwide by Centerpulse, (NYSE: CEP), the
Mentor Corporation (NMS: MNTR), IOP, Inc. and through independent
distributors and subsidiaries in the U.S. and Germany.
For more information, visit http://www.tutogen.com or call
973/785-0004.
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