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):  June 22, 2012

_______________________

CRYOLIFE, INC.
(Exact name of registrant as specified in its charter)
_________________________

Florida
1-13165
59-2417093
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)

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

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

_________________________

      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):

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

q
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))

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

 

 
 
 
 

 

 
Section 8   Other Events

Item 8.01   Other Events.

CryoLife, Inc. (the "Company") is filing this Form 8-K to reflect the retrospective application of accounting guidance on the presentation of comprehensive income (as revised). The impact of retrospectively adjusting for the adoption of this standard was immaterial to our historical financial statements.

SELECTED FINANCIAL DATA
 
 The following table sets forth our historical selected financial information. Effective January 1, 2012, we adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income, as amended by ASU 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. These updates revise the manner in which entities present comprehensive income in their financial statements. The following selected financial information revises historical information to illustrate the new presentation required by this pronouncement for the periods presented.
 


STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited, in thousands)
 
   
Year Ended
 
   
December 31,
2011
   
December 31,
2010
   
December 31,
2009
 
Net income
  $ 7,371     $ 3,944     $ 8,679  
 
Change in translation adjustment
    26       6       42  
Comprehensive income
  $ 7,397     $ 3,950     $ 8,721  
 










 
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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.


 
CRYOLIFE, INC.
   
   
Date:  June 22, 2012
By:        /s/ D.A. Lee
 
Name:   D. Ashley Lee
 
Title:     Executive Vice President, Chief
 
              Operating Officer and Chief
 
              Financial Officer
   







 
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