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

Friday, May 6, 2011 General News
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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:

áNet loss

($1,399,000)

($5,022,000)

áAdjustments to reconcile net loss to net cash used áin operating activities:

ááDepreciation and amortization

362,000

361,000

ááStock based compensation expense

761,000

419,000

ááGain on disposal of equipment

(1,000)

--

ááLoss on impairment of equipment

--

26,000

ááAccretion of discount on short-term investments

--

(2,000)

á áNet change in operating assets and liabilities:

áá áAccounts receivable, net

1,631,000

(782,000)

áá áInventories

(1,034,000)

(391,000)

áá áOther current assets

186,000

454,000

áááOther assets

(96,000)

59,000

áááAccounts payable

(485,000)

509,000

áááAccrued payroll and related expenses

173,000

(437,000)

áááDeferred revenue

(540,000)

(477,000)

áááOther liabilities

(543,000)

248,000

ááNet cash used in operating activities

(985,000)

(5,035,000)

Cash flows from investing activities:

áCapital expenditures

(156,000)

(469,000)

áProceeds from sale of equipment

17,000

--

áPurchase of investments

--

(6,741,000)

áMaturities of investments

--

10,727,000

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

(139,000)

3,517,000

Cash flows from financing activities:

áExercise of stock options

7,000

--

áIssuance of common stock

3,932,000

--

áPayments on capital lease obligations

(1,000)

(3,000)

ááNet 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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