Cardica Reports Q2 EPS of $(0.13)

Cardica, Inc. CRDC today announced financial results for its fiscal second quarter and six-months ended December 31, 2010. Total product sales were approximately $1.1 million for the fiscal 2011 second quarter compared to $1.0 million for the same period of fiscal 2010. Total net revenue was approximately $1.2 million for the fiscal 2011 second quarter compared to $1.1 million for the fiscal 2010 second quarter. Cost of product sales was approximately $1.0 million for the fiscal 2011 second quarter compared to $0.7 million in the same period of fiscal 2010. Research and development expenses were approximately $2.0 million for the fiscal 2011 second quarter compared to $1.2 million for the fiscal 2010 second quarter. Selling, general and administrative expenses for the fiscal 2011 second quarter were approximately $1.6 million compared to $1.4 million for the comparable quarter of fiscal 2010. The net loss for the fiscal 2011 second quarter was approximately $3.3 million, or $0.13 per diluted share, compared to a net loss of approximately $2.2 million, or $0.09 per diluted share, for the fiscal 2010 second quarter.