GAAP diluted earnings
per share $0.11 $0.11
Discontinuance of embolic
protection platform 0.03 -
Non-GAAP diluted earnings per
share as adjusted $0.14 $0.11 27%
Note: To supplement our forecasted guidance presented in accordance with
GAAP, Kensey Nash Corporation uses non-GAAP measures of as adjusted
earnings per share, which are adjusted from our forecasted GAAP guidance
to exclude certain expenses. 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
forecasted non-GAAP guidance provides 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 forecasted GAAP guidance for the discontinuance of
our embolic protection platform. As previously announced, the Company has
and will exclude the impact of write-offs of inventory, certain dedicated
embolic protection equipment, and other assets related to the Company's
decision in June 2007 to discontinue the embolic protection product line.
Additional charges related to severance and clinical trial closeout costs
are expected to be recorded in the first fiscal quarter of 2008, as set
forth in the reconciliation.
We have and expect to recognize asset impairment and other related charges
totaling approximately $5.3 million before taxes. These charges include
cash charges primarily related to severance, clinical trial and other
contract termination costs totaling approximately $0.7 million in
aggregate. These charges also include non-cash char
|SOURCE Kensey Nash Corporation|
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