Cryolife Inc. ($CRY) stock jumped over 4 percent in its post-trading session as the company announced its fourth quarter and full year results for 2016. The company reported 13 percent Year over Year increase in its revenue to $45 million for the fourth quarter. The increase was mainly due to the acquisition of On-X Life Technologies in January 2016. Revenues for the full year of 2016 increased 24 percent to $180.4 million, compared to $145.9 million for the full year of 2015.
Cryolife reported its Non-GAAP net income for the fourth quarter of 2016 was $4.1 million, or $0.12 per fully diluted common share, compared to non-GAAP net income of $3.9 million, or $0.13 per fully diluted common share for the fourth quarter of 2015. Its Non-GAAP net income for the full year of 2016 was $16.0 million, or $0.48 per fully diluted common share, up from non-GAAP net income of $8.7 million, or $0.30 per fully diluted common share for the full year of 2015.
The company stock is on robust standing as it is up over 115 percent in the past 12 months. It is currently trading close to its 52 weeks high. Cryolife is mainly engaged in developing and distributing medical devices.