excludes the impact of foreign exchange for purposes of reviewing
regional and divisional revenue growth rates to facilitate an
evaluation of the Company's current operating performance and
comparison to the Company's past operating performance.
Material Limitations Associated with the Use of Non-GAAP Financial
Non-GAAP net income, non-GAAP net income per diluted share, and regional
and divisional revenue growth rates that exclude the impact of foreign
exchange may have limitations as analytical tools, and these non-GAAP
measures should not be considered in isolation or as a replacement for
GAAP financial measures. Some of the limitations associated with the use
of these non-GAAP financial measures are:
-- Items such as purchased research and development, the gain on
divestitures, and the fair value adjustment related to the sharing of
proceeds feature of the Abbott stock purchase reflect economic costs to
the Company and are not reflected in non-GAAP net income and non-GAAP
net income per diluted share.
-- Items such as Guidant integration costs and restructuring-related
expenses that are excluded from non-GAAP net income and non-GAAP net
income per diluted share can have a material impact on cash flows and
GAAP net income and net income per diluted share.
-- Items such as amortization of purchased intangible assets, though not
directly affecting Boston Scientific's cash flow position, represent a
reduction in value of intangible assets over time. The expense
associated with this reduction in value is not included in Boston
Scientific's non-GAAP net income or non-GAAP net income per diluted
share and therefore these measures do not reflect the full economic
effect of the
|SOURCE Boston Scientific Corporation|
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