ev3's net loss for the first quarter of 2008 increased 3% to $9.8 million compared to $9.5 million in the first quarter of 2007. ev3's net loss per common share was $0.09 for the first quarter of 2008 compared to $0.17 in the first quarter of 2007. Total weighted average common shares outstanding used in the per share calculations were 104.1 million and 57.5 million for the first quarter of 2008 and 2007, respectively.
ev3's earnings before interest, taxes, depreciation and amortization (EBITDA), excluding charges for non-cash stock-based compensation, was a positive $6.2 million in the first quarter of 2008, compared to a negative $1.2 million in the first quarter of 2007. ev3 uses the non-GAAP financial measure, EBITDA, excluding charges for non-cash stock-based compensation, and certain other non-GAAP financial measures, as supplemental measures of performance and believe that these measures facilitate operating performance comparisons from period to period and company to company. EBITDA, excluding charges for non-cash stock-based compensation, for the first quarter of 2008 and 2007 are reconciled to ev3's net loss for the respective periods immediately following the detail of net sales by geography later in this press release.
Palmisano concluded, "Throughout 2008, we will continue to focus on
expanding our channel to endovascular specialists worldwide, driving global
procedure penetration and expanding our portfolio of therapy solutions to
treat peripheral vascular and neurovascular disease. We also will focus on
improving execution and operational efficiency to drive results for our
customers and shareholders. I am confident that we will be able to
capitalize on the market opportunities and work towards
|SOURCE ev3 Inc.|
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