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LabStyle Innovations Reports 2014 Second Quarter Results and Anticipated Milestones for the Remainder of the Year
Date:8/15/2014

proximately $5,286,000, or $0.29 per share, for the second quarter of 2013. For the first six months of 2014 the net loss was approximately $6,238,000, or $0.28 per share, compared with a net loss of approximately $10,513,000, or $0.63 per share, for the first six months of 2013.

The non-GAAP adjusted loss for the second quarter of 2014 was approximately $2,753,000, or $0.11 per share, compared with a non-GAAP adjusted loss for the second quarter of 2013 of approximately $2,251,000, or $0.12 per share. The non-GAAP adjusted loss for the first half of 2014 was approximately $4,714,000, or $0.21 per share, versus a non-GAAP adjusted loss of approximately $3,497,000, or $0.21 per share, in the corresponding period in 2013.

LabStyle used approximately $4,418,000 in cash to fund operating activities during the first half of 2014. As of June 30, 2014, LabStyle had cash, cash equivalents, restricted cash and short-term bank deposits of approximately $1,985,000.

Note on Non-GAAP Measures Readers should note that LabStyle has, in the schedule below, supplemented its GAAP net income (loss) with a non-GAAP measure of adjusted EBITDA.  Management believes that this non-GAAP financial measure provides useful supplemental information to management and investors regarding LabStyle's performance, facilitates a more meaningful comparison of results for current periods with previous operating results, and assists management in analyzing future trends, making strategic and business decisions and establishing internal budgets and forecasts. A reconciliation of non-GAAP adjusted EBITDA to GAAP net income (loss) in the most directly comparable GAAP measure is provided in the schedule below.

There are limitations in using this non-GAAP financial measure because it is not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies. This non-GAAP financial measure should not be considered in isolation or as
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SOURCE LabStyle Innovations Corp.
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