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ThermoGenesis Reports Third Quarter Fiscal 2011 Results; Major Progress Achieved in China & India

Friday, May 6, 2011 General News J E 4
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THERMOGENESIS CORP.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

Nine Months Ended

March 31,

2011

2010

Cash flows from operating activities:

 Net loss

($1,399,000)

($5,022,000)

 Adjustments to reconcile net loss to net cash used  in operating activities:

  Depreciation and amortization

362,000

361,000

  Stock based compensation expense

761,000

419,000

  Gain on disposal of equipment

(1,000)

--

  Loss on impairment of equipment

--

26,000

  Accretion of discount on short-term investments

--

(2,000)

   Net change in operating assets and liabilities:

    Accounts receivable, net

1,631,000

(782,000)

    Inventories

(1,034,000)

(391,000)

    Other current assets

186,000

454,000

   Other assets

(96,000)

59,000

   Accounts payable

(485,000)

509,000

   Accrued payroll and related expenses

173,000

(437,000)

   Deferred revenue

(540,000)

(477,000)

   Other liabilities

(543,000)

248,000

  Net cash used in operating activities

(985,000)

(5,035,000)

Cash flows from investing activities:

 Capital expenditures

(156,000)

(469,000)

 Proceeds from sale of equipment

17,000

--

 Purchase of investments

--

(6,741,000)

 Maturities of investments

--

10,727,000

  Net cash (used in)/provided by investing activities:

(139,000)

3,517,000

Cash flows from financing activities:

 Exercise of stock options

7,000

--

 Issuance of common stock

3,932,000

--

 Payments on capital lease obligations

(1,000)

(3,000)

  Net cash provided by/(used in) financing activities

3,938,000

(3,000)

Net increase/(decrease) in cash and cash equivalents

2,814,000

(1,521,000)

Cash and cash equivalents at beginning of period

10,731,000

6,655,000

Cash and cash equivalents at end of period

$13,545,000

$5,134,000

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