STAAR Surgical Generates Cash From Operations During Seco...(of operating profitability because it ex...),Health

Date:8/3/2009

of operating profitability because it excludes non-operating expenses and noncash charges that can mask trends in core performance. STAAR's management uses EBITDA to track the company's progress toward profitability and measure its core performance. The Company believes this measure of performance might also be useful to investors for the same reasons. The table below presents EBITDA and reconciles it to net earnings (loss).

When reviewing financial information to assess the effectiveness of initiatives to enhance long-term performance by reducing expenses, management may eliminate the effect of significant non-recurring expenses in order to discern underlying trends. In the 2008 fiscal year, the Company's results were significantly affected by the following non-recurring expenses classified in the GAAP reconciliation table as "purchase A/C [accounting] charges": a $1.5 million purchase accounting charge related to inventory purchased in the acquisition of STAAR Japan, Inc. and a $3.8 million charge for the settlement of a pre-existing distribution arrangement in connection with the STAAR Japan, Inc. acquisition. Because the effect of purchase accounting charges can overwhelm the effect of meaningful trends in the Company's business performance, management evaluates its performance excluding these non-recurring items. The Company believes that this non-GAAP measure is also helpful to investors in discerning underlying trends. The table below shows the effects of the excluded non-recurring items.

The Company conducts a significant part of its activities outside the U.S. It receives sales revenue and pays expenses principally in U.S. dollars, Swiss francs, Japanese yen and Euros. The exchange rates between dollars and non-U.S. currencies can fluctuate greatly and can have a significant effect on our results when reported in U.S. dollars. When preparing its financial statements in conformance with GAAP, the Company tran
'/>"/>

SOURCE STAAR Surgical Company Copyright©2009 PR Newswire. All rights reserved

1 GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
Related medicine news :

1. STAAR Surgical to Present at BMO Capital Markets 9th Annual Focus on Healthcare Conference in New York
2. Review of STAARs Application for the Visian(R) Toric Implantable Collamer(R) Lens by FDA to Resume
3. Review of STAARs Application for the Visian(R) Toric Implantable Collamer(R) Lens by FDA to Resume
4. STAAR Surgical Announces Second Quarter 2009 Earnings Release Date And Conference Call
5. Richard A. Meier Appointed to STAAR Surgical Board of Directors
6. STAAR Surgical Completes Common Stock Offering
7. STAAR Surgical Receives Japanese Clearance for the KS-Ni Preloaded IOL Injector System
8. STAAR Surgical Announces First Quarter 2009 Earnings Release Date and Conference Call
9. STAAR Surgical Reports 14% Fourth Quarter Revenue Growth
10. STAAR Surgical Forms Team of Leading Ophthalmic Surgeons to Study the Use of Collamer(R) Material for Accommodating Intraocular Lenses
11. STAAR Surgical Reports 33% Third Quarter Revenue Growth