approximately $4.6 primarily related to abandonment of inventory and
machinery and equipment. Of the approximately $5.3 million in charges,
approximately $4.7 million (including $4.6 million of non-cash asset
impairment charges and $0.1 million of cash charges) had been recorded in
the fourth quarter ending June 30, 2007, and the remainder is expected to
be recognized in the first fiscal quarter of 2008. These charges have and
will be presented within the Company's results from continuing operations.
These non-GAAP measures will provide investors and management with an
alternative method for assessing Kensey Nash's operating results in a
manner consistent with future presentation as a result of the
discontinuance of our embolic protection platform. Further, these non-
GAAP results are one of the primary indicators management uses for
planning and forecasting in future periods. The presentation of this
additional information should not be considered in isolation or as a
substitute for results prepared in accordance with accounting principles
generally accepted in the United States.
|SOURCE Kensey Nash Corporation|
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