The Company also reconfirmed its revenues and earnings at the high end of its guidance range for the first quarter of fiscal 2008. The previously announced guidance included revenue of $17.0 to $17.7 million, and earnings per share of $0.09 to $0.11, including $0.03 per share of remaining charges related to the Company's discontinuance of its embolic protection product platform. Revenue at the high end of the guidance range would represent growth of 9% over the prior year total revenue of $16.3 million, while earnings per share of $0.14, prior to the $0.03 embolic protection charges, would represent growth of 27% over the prior year $0.11 earnings per share for the same period.
In addition, the Company commented on its endovascular business and strategy. As previously stated, the Company is carefully monitoring the performance of this business. The Company believes that its strategy to market the endovascular products through Kensey Nash Corporation's own direct endovascular sales force can create shareholder value. However, the Company also recognizes that there may be alternative approaches to maximize value for its shareholders, and is simultaneously evaluating partnering, licensing and other strategic alternatives.
Cautionary Note for Forward-Looking Statements. This press release
contains forward-looking statements, including reference to our first
quarter fiscal 2008 revenue and earnings guidance, that reflect the
Company's current expectations about its prospects and opportunities. The
Company has tried to identify these forward looking statements by using
words such as "expect," "anticipate," "estimate," "plan," "will,"
"forecast," "believe," or similar expressions, but these words are not the
exclusive means for identifying such statem
|SOURCE Kensey Nash Corporation|
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