-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FvpjB41IgOoe7oLIMfIeIckTYonLzb2BNDWQJjXtpeN3gREu3z+IoY2hvJ9zawC0 TRw+43VHeEWdDbW6t2WeOA== 0001001277-04-000238.txt : 20040519 0001001277-04-000238.hdr.sgml : 20040519 20040519141111 ACCESSION NUMBER: 0001001277-04-000238 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040512 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040519 FILER: COMPANY DATA: COMPANY CONFORMED NAME: THERMOGENESIS CORP CENTRAL INDEX KEY: 0000811212 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY APPARATUS & FURNITURE [3821] IRS NUMBER: 943018487 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-82900 FILM NUMBER: 04818296 BUSINESS ADDRESS: STREET 1: 2711 CITRUS ROAD CITY: RANCHO CORDOVA STATE: CA ZIP: 95742 BUSINESS PHONE: 9168585100 MAIL ADDRESS: STREET 1: 2711 CITRUS ROAD CITY: RANCHO CORDOVA STATE: CA ZIP: 95742 FORMER COMPANY: FORMER CONFORMED NAME: INSTA COOL INC OF NORTH AMERICA DATE OF NAME CHANGE: 19920703 8-K 1 form8k.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 12, 2004 THERMOGENESIS CORP. (Exact name of registrant as specified in its charter) Delaware 0-16375 94-3018487 --------- ------- ---------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 2711 Citrus Road Rancho Cordova, California 95742 (916) 858-5100 -------------- (Address and telephone number of principal executive offices) Item 7. Financial Statements and Exhibits. Exhibit No. Exhibit Description ----------- ------------------- 99.1 Press release announcing third quarter results Item 12. Results of Operations and Financial Condition. ThermoGenesis Corp. announced its results for the third quarter ended March 31, 2004, on a press release, furnished as Exhibit 99.1. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THERMOGENESIS CORP., a Delaware corporation Dated: May 18, 2004 /s/ Renee M. Ruecker -------------------------------------------- Renee M. Ruecker, Chief Financial Officer (Principal Financial and Accounting Officer) EX-99 2 pressrelease.txt Exhibit 99.1 THERMOGENESIS CORP. ANNOUNCES THIRD QUARTER RESULTS Company Achieves Record Revenues of $3.4 Million Led By BioArchive(R) Sales Third Quarter Gross Profit Doubles Rancho Cordova, California (May 12, 2004) - THERMOGENESIS CORP. (Nasdaq: KOOL) today announced results for its third quarter of fiscal 2004. Net revenues for the quarter ended March 31, 2004 increased 17% to $3,367,000, compared to $2,886,000 for the third quarter of fiscal 2003. For the nine months ended March 31, 2004 the Company's net revenues increased 10% to $8,010,000 compared to $7,289,000 for the first nine months of the prior year. The gross profit for the third quarter doubled to $1,167,000 or 35% of net revenues compared to $511,000 or 18% for the third quarter ended March 31, 2003. For the nine months ended March 31, 2004, the gross profit increased to $2,558,000 or 32% compared to $1,279,000 or 18% for the first nine months of the prior year. Our net loss for the quarter ended March 31, 2004, was $1,218,000 or $0.03 per basic and diluted share compared to a $1,666,000 net loss of $0.05 per basic and diluted share for the quarter ended March 31, 2003. For the nine months ended March 31, 2004, the net loss was $3,680,000 or $0.09 per basic and diluted share, a decrease from $4,612,000 or $0.13 per basic and diluted share for the nine months ended March 31, 2003. The Company posted it's highest quarterly revenues since it's inception, led by the BioArchive product line which generated $2.2 million in revenues for the quarter ended March 31, 2004, an increase of $500,000 or 32% over the third quarter of last year. The increase was primarily generated from sales of BioArchive devices which is due to the infusion of government funding in Japan and the expansion of our technology which resulted in new product sales into new countries such as Scotland and Turkey. "The increase in the gross profit margin is the result of higher average selling prices for BioArchive devices and ThermoLine freezers and the volume increase of the BioArchive product line as a percentage of total Company revenues. The products in the BioArchive product line have a higher gross profit margin than the other product lines" stated Kevin Simpson, President and Chief Operating Officer. In addition to the improvements in the Statements of Operations, the Company's balance sheet was further strengthened upon completion of an equity financing during the third quarter of fiscal 2004 which generated $9.8 million in net proceeds. "We are extremely pleased with our improved financial condition and resources" stated Philip Coelho, Chief Executive Officer. The Company reported a cash balance of $18 million and working capital of $20.9 million at March 31, 2004 compared to $6.8 million of cash and $10.1 million of working capital at June 30, 2003. Company Conference Call Management will host a conference call today, May 12, 2004 at 11:00 am PDT to review the financial results and other corporate events, followed by a Q&A session. The call can be accessed by dialing: (800) 860-2442 within the U.S. or (412) 858-4600 outside the U.S and giving the conference name "THERMOGENESIS". Participants are asked to call the assigned number approximately five (5) minutes before the conference call begins. A replay of the conference call will be available two hours after the call for the following five business days by dialing: (877) 344-7529 within the U.S. or (412) 858-1440 outside the U.S. and entering the following account number: 019 and the following conference number: 343945. About ThermoGenesis Corp. After extensive research, ThermoGenesis Corp's technology platforms lead the world in their ability to produce biological products from single units of blood. Umbilical cord blood banks are utilizing the Company's BioArchive System as a critical enabling technology for the processing and cryogenic archiving of stem cells for transplant. The CryoSeal(R) FS System is used to prepare hemostatic and adhesive surgical sealants from patient blood in about an hour. ThermoGenesis Corp. has been a leading supplier of state-of-the-art Ultra-Rapid Blood Plasma Freezers and Thawers to hospitals and blood banks since 1992. The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies and products, delays in testing and evaluation of products and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. For More Information, Contact: THERMOGENESIS CORP. Kevin Simpson: (916) 858-5100 or visit the web site at www.thermogenesis.com THERMOGENESIS CORP. Condensed Statements of Operations (Unaudited)
Three Months Ended Nine Months Ended March 31, March 31, 2004 2003 2004 2003 ----------- ---------- ---------- --------- Net revenues $3,367,000 $2,886,000 $8,010,000 $7,289,000 Cost of revenues 2,200,000 2,375,000 5,452,000 6,010,000 ----------- ---------- ---------- --------- Gross profit 1,167,000 511,000 2,558,000 1,279,000 ----------- ---------- ---------- --------- Expenses: Selling, general and administrative 1,341,000 1,386,000 3,762,000 3,755,000 Research and development 1,057,000 795,000 2,504,000 2,183,000 ---------- ---------- --------- --------- Total operating expenses 2,398,000 2,181,000 6,266,000 5,938,000 Interest and other income, net 13,000 4,000 28,000 47,000 ---------- ---------- --------- --------- Net loss $(1,218,000) $(1,666,000) $(3,680,000) $(4,612,000) ============ ============ ============ ============ Basic and diluted net loss per common share ($0.03) ($0.05) ($0.09) ($0.13) ============ ============ ============ ============ Shares used in computing per share data 42,742,891 36,570,697 40,822,944 35,700,791 ============ ============ ============ ============
THERMOGENESIS CORP. Condensed Balance Sheets (Unaudited) March 31, June 30, 2004 2003 ASSETS Current assets: Cash and cash equivalents $18,070,000 $6,815,000 Accounts receivable, net 2,163,000 2,014,000 Inventories 2,910,000 2,650,000 Other current assets 697,000 820,000 ----------- ---------- Total current assets 23,840,000 12,299,000 Equipment, net 844,000 442,000 Other assets 49,000 50,000 ----------- ---------- $24,733,000 $12,791,000 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,544,000 $ 1,165,000 Other current liabilities 1,388,000 1,008,000 ----------- ----------- Total current liabilities 2,932,000 2,173,000 Long-term obligations and note payable 27,000 44,000 Stockholders' equity 21,774,000 10,574,000 ----------- ----------- $24,733,000 $12,791,000 =========== =========== -----END PRIVACY-ENHANCED MESSAGE-----