Kensey Nash Reports Third Quarter Record Revenue... (ssets related to the Company's decision ...)

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Kensey Nash Reports Third Quarter Record Revenue and Sales

Date:4/29/2008

ssets 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 were recorded in the first fiscal

quarter of 2008, as set forth in the reconciliation. In addition, the

Company is excluding the impact of the acceleration of vesting of the

stock awards from the first quarter results due to the "Change in Control"

as defined in the Company's equity compensation plan on August 30, 2007

when Ramius Capital Group, L.L.C. and its affiliates acquired more than 20

percent of the Company's outstanding common stock.

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 the presentation prior to the discontinuance of our

embolic protection division and the accelerated vesting of stock awards.

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
Copyright©2008 PR Newswire.
All rights reserved

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4. Kensey Nash Reports First Quarter Fiscal Year 2008 Results
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