UNITED STATES

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): October 15, 2018

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CRYOLIFE, INC.

(Exact name of registrant as specified in its charter)
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1655 Roberts Boulevard, N.W., Kennesaw, Georgia  30144
(Address of principal executive office) (zip code)

Registrant's telephone number, including area code: (770) 419-3355

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(Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):



☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)



☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)



☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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On October 15, 2018, CryoLife, Inc. issued a press release announcing preliminary financial results for its fiscal third quarter ended September 30, 2018. A copy of the press release is attached hereto as Exhibit 99.1 to this current report on Form 8-K and is incorporated herein by reference.



The information provided pursuant to this Item 2.02 is to be considered “furnished” pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, nor shall it be deemed incorporated by reference into any of CryoLife’s reports or filings with the Securities and Exchange Commission, whether made before or after the date hereof, except as expressly set forth by specific reference in such report or filing. 



Except for the historical information contained in this report, any statements made by CryoLife are forward-looking statements that involve risks and uncertainties. Any such statements are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. CryoLife’s future financial performance could differ significantly from the expectations of management and from results expressed or implied in the press release.  For further information on risk factors, please refer to “Risk Factors” contained in CryoLife’s most recently filed Form 10-K and its subsequent filings with the Securities and Exchange Commission, as well as in the press release attached as Exhibit 99.1 hereto. CryoLife disclaims any obligation or duty to update or modify its forward-looking statements.



Section 9Financial Statements and Exhibits.



Item 9.01(d)Exhibits



(a)Financial Statements

Not applicable



(b)Pro Forma Financial Information.

Not applicable.



(c)Shell Company Transactions.

Not applicable.



(d)Exhibits.







*This exhibit is furnished, not filed.







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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, CryoLife, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.









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FOR IMMEDIATE RELEASE



Contacts:







CryoLife Reports Preliminary Financial Results for Third Quarter 2018 in Anticipation of Discussions with Senior Lenders Regarding Repricing Senior Credit Facility



Announces Release Date and Teleconference Call Details for 2018 Third Quarter Financial Results





ATLANTA, GA – (October 15,  2018) –CryoLife, Inc. (NYSE: CRY),  a leading cardiac and vascular surgery company focused on aortic disease, in  anticipation of discussions with its senior lenders regarding repricing its senior secured credit facility, today announced certain preliminary unaudited financial results for the third quarter of 2018.



Preliminary and unaudited revenue for the third quarter of 2018 is expected to be approximately $64.6 million, reflecting growth of approximately 47 percent over the third quarter of 2017 and approximately 17 percent growth on a non-GAAP basis.  Non-GAAP revenues include JOTEC revenues for the same nine-month period in 2017 prior to the closing of the acquisition of JOTEC on December 1, 2017.                                                                                                                                             



“Our third quarter revenue results were driven by continuing strength in JOTEC, which increased 32 percent on a non-GAAP basis, On-X, which increased 36 percent year-over-year,  and tissue processing, which grew 15 percent,” said Pat Mackin, Chairman, President and Chief Executive Officer of CryoLife.    



Additionally, the Company announced that 2018 third quarter financial results will be released on Wednesday, October 31, 2018 after the market closes.  On Thursday, November 1, 2018 the Company will hold a teleconference call and live webcast at 8:30 a.m. ET to discuss the results, followed by a question and answer session hosted by Pat Mackin, Chairman, President and Chief Executive Officer of CryoLife, Inc. 



To listen to the live teleconference, please dial 201-689-8261 a few minutes prior to 8:30 a.m. ET.  A replay of the teleconference will be available November 1 through November 8 and can

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be accessed by calling (toll free) 877-660-6853 or 201-612-7415.  The conference number for the replay is 13684106.



The live webcast and replay can be accessed in the Investor Relations section of the CryoLife website at www.cryolife.com and selecting Webcasts & Presentations.  In addition, a copy of the earnings press release, which will contain financial and statistical information for the completed quarter and full year, can be accessed in the Investor Relations section of the CryoLife website.



About CryoLife, Inc.

Headquartered in suburban Atlanta, Georgia, CryoLife is a leader in the manufacturing, processing, and distribution of medical devices and implantable tissues used in cardiac and vascular surgical procedures focused on aortic repair.  CryoLife markets and sells products in more than 90 countries worldwide.  For additional information about CryoLife, visit our website, www.cryolife.com. 











CRYOLIFE, INC. AND SUBSIDIARIES

Reconciliation of GAAP to Non-GAAP Revenues

(In thousands)





 

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