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Jan302012

ThermoGenesis Corp (KOOL) - ReOrganizing ?

DDE Editor

ThermoGenesis Corp (NASDAQ: KOOL) announced a management transition in conjunction with tactical realignment of company in this press release.

Thermogenesis is an automation/tool's supplier in and around the world of cell therapy. The company has had their struggles with the business model and a run towards profitability which also seems to be a year away. News today that Matthew Plavan (currently CFO / EVP, Business Development), will become CEO and a board member as well as the CFO is tough to read. According to the press release:

Plavan will replace J. Melville Engle, (who has retired from his position as Chairman and CEO).
The company will cut eight additional positions and provide additional details on its new operating structure and objectives during its Q2 fiscal 2012 conference call on Thursday, 9-Feb.
KOOL expects to record one-time expenses of approximately $500,000 related to the reorganization announced in Q3 of fiscal 2012 BUT the restructured operations should result in an annualized expense reduction of approximately $2M (according to KOOL.

Daily Dose Conclusion: No Rush to jump into KOOL on a reorg news but this is a great company, strong technology that at some point could be acquired by a bigger fish.

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