The Company reported a net loss of $1,178,000, or $0.08 per diluted share, for Q4 2007 compared to a net loss of $674,000, or $0.05 per diluted share, for Q4 2006. The 2007 net loss was $2,934,000, or $0.19 per diluted share, compared with the 2006 net loss of $1,172,000, or $0.15 per diluted share. The Q4 2007 operating loss was $1,317,000, compared to an operating loss of $433,000 for Q4 2006. The 2007 operating loss was $4,283,000 compared to an operating loss of $679,000 for 2006.
In 2007, the Company recorded $1.5 million of extraordinary charges. These included restructuring and impairment charges of $1,049,000 primarily from the Company's buyout of its Italian and Irish distributors, $373,000 of purchased R&D (non-cash), and the $105,000 Biomateriali OEM inventory write-down (non- cash). Excluding these three specific items, the non-GAAP operating loss for Q4 and 2007 would have been $856,000 and $2,756,000 respectively.
Sales and marketing expenses for 2007 increased 28% to $19,443,000 from $15,183,000 in 2006. The increase was primarily a result of a larger sales force. The Company ended 2007 with 57 sales representatives, compared to 47 at the end of 2006.
For 2007, general and administrative expenses increased 34% to $9,534,000. This increase was primarily the result of the higher costs associated with being a publicly-traded company for 12 months in 2007 versus 2 1/2 months in 2006.
R&D expenses, excluding purch
|SOURCE LeMaitre Vascular, Inc.|
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