,934Income per common share:Basic$
.07Weighted-average common shares outstanding:Basic
28,539Reconciliation for 2011 excluding items:Income before income taxes, GAAP$
2,535Excluding expenses for business development activities
1,154Adjusted income before income taxes, non-GAAP3,689Income tax expense calculated at 2011 effective tax rate of 34%
1,254Adjusted net income, non-GAAP$
2,435Adjusted income per common share, non-GAAP:Basic$
.09Weighted-average common shares outstanding:Basic
27,720Investors should consider this non-GAAP information in addition to, and not as a substitute for, financial measures
prepared in accordance with U.S. GAAP. In addition, this non-GAAP financial information may not be the same as similar measures presented by other companies. Non-GAAP adjusted net income and adjusted income per common share exclude expenses for business development activities, including the Company's proposed acquisition of Cardiogenesis. The Company believes that this non-GAAP presentation provides useful information to investors regarding the expense structure of the Company's existing operations without regard to its ongoing efforts to acquire complementary products and businesses. The Company does, however, expect to incur similar types of business development expenses in the future, and this non-GAAP financial information should not be viewed as a promise or indication that these types of expenses will not recur.
Media Contacts:D. Ashley Lee
Executive Vice President, Chief Financial Officer and
Chief Operating Officer
|SOURCE CryoLife, Inc.|
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