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Kensey Nash Reports Strong Second Quarter and First Six Month Fiscal Year 2009 Results
Date:1/28/2009

ization 3.5 3.6 --- --- EBITDA $19.0 $6.6 188% Special Charges (b) - 3.3 --- --- ---- Adjusted EBITDA $19.0 $9.9 92% ===== ==== ==== (b) Adjusted EBITDA for the six months ended December 31, 2007 included approximately $3.0 million in charges for the acceleration of stock awards, and approximately $324,000 in charges related to the discontinuation of the Company's embolic protection platform, both of which were incurred during the first quarter of fiscal 2008.

Note: To supplement our consolidated financial statements presented in accordance with GAAP, Kensey Nash Corporation uses non-GAAP measures of adjusted earnings per share, EBITDA and adjusted EBITDA, which are adjusted from our GAAP results to exclude certain expenses and in the calculation of EBITDA and adjusted EBITDA also interest income, taxes, depreciation and amortization. These non-GAAP adjustments are provided to enhance the user's overall understanding of our historical and current financial performance and our prospects for the future. We believe the non-GAAP results provide useful information to both management and investors by excluding certain expenses that we believe are not indicative of our core operating results.

We have adjusted our GAAP results for the discontinuance of our embolic protection platform and accelerated vesting of stock awards. We excluded the impact of write-offs of inventory, certain dedicated embolic protection equipment, and other assets related to our decision in June 2007 to discontinue the embolic protection product line. Additional charges related to severance and clinical trial closeout costs were recorded during the fiscal year ended 2
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