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ev3 Inc. Reports Third Quarter 2008 Financial Results
Date:10/31/2008

008 net sales compared to the third quarter of 2007, and a negative impact of approximately $900,000 compared to the second quarter of 2008 as a result of declines in foreign currency exchange rates.

An investor presentation summarizing the company's third quarter 2008 results is available at http://ir.ev3.net.

Outlook

ev3 expects fiscal year 2008 net sales to be in the range of $418 to $423 million consisting of $398 to $403 million of product sales and $20.2 million of research collaboration revenue and the additional revenue to be recognized as a result of services to be provided to Merck to wind-down activities. Full-year revenue guidance has been updated to reflect a $3.7 million increase from ev3's previous guidance of $16.5 million of research collaboration revenue and a decrease in product sales from a range of $408 to $413 million to $398 to $403 million as a result of recent decreases in foreign currency exchange rates and new competitive entrants in the peripheral vascular marketplace. ev3 expects fiscal year 2008 non-GAAP adjusted earnings per share to be in the range of $0.06 to $0.08 per diluted share based on approximately 105 million of outstanding shares. ev3's adjusted net earnings per share guidance excludes estimated amortization expense of approximately $31.0 million, non-cash stock-based compensation of approximately $14.3 million and the $10.5 million non-cash impairment charge related to the termination of ev3's former collaboration and license agreement with Merck.

The company expects fourth quarter 2008 net sales to be in the range of $102 to $107 million and non-GAAP adjusted net earnings per share to be in the range of $0.04 to $0.06 per diluted share based on approximately 105 million of outstanding shares. ev3's non-GAAP adjusted net earnings per share excludes estimated amortization expense of approximately $6.7 million and non- cash stock-based compensation of a
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SOURCE ev3 Inc.
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