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Kensey Nash Reports Fourth Quarter and Fiscal Year 2008 Results
Date:8/21/2008

e Company's endovascular business. Adjusted diluted earnings per share* for the fourth quarter of fiscal year 2007 excluded $4.7 million in charges ($3.1 million in after-tax charges, or $0.25 per share tax effected), for the discontinuance of the Company's embolic protection platform. Including these items, the fiscal year 2008 fourth quarter loss per share was ($0.09) compared to a loss of ($0.15) per share for the same period in fiscal year 2007. Tax-effected equity compensation expense, which is included in adjusted earnings per share, was $0.04 and $0.03 per share for the periods ended June 30, 2008 and 2007, respectively.

* Diluted earnings per share excluding after-tax special charges are non-GAAP financial measures and should not be considered replacements for GAAP results. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, see the accompanying table to this release.

The following chart presents a summary reconciliation of the Company's adjusted earnings per share for the three months ended June 30, 2008, and the comparable period of the prior fiscal year. See attached schedules for a detailed reconciliation between the non-GAAP and reported GAAP results.

Three Months Year over

Ended June 30, Year %

($ millions, except per share data) 2008 2007 Change

Data as Reported:

Pre-tax Loss, As Reported ($2.0) ($3.0) 33%

Adjust for:

Discontinuation of Embolic

Protection - $4.7 n/m

Sale of Endovascular

Business, Net $8.1 - n/m

Pre-tax Income, As Adjusted $6.1 $1.7 265%

Earnings Per Share, As Adjusted $0.35 $0.11 218
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SOURCE Kensey Nash Corporation
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