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Patient Safety Technologies Reports Second Quarter 2012 Results
Date:8/10/2012

revious quarter in our history.  With this significant growth we have further strengthened our market leading position as well as continued to see our increased market penetration translate into improved financial results," stated Brian E. Stewart, President and Chief Executive Officer of Patient Safety Technologies, Inc.The Company's second quarter of 2012 financial statements are included in its Quarterly Report on Form 10-Q filed by the Company on August 10th, 2012 and available at the SEC's website at www.sec.gov.Reconciliation of GAAP to Non-GAAP Results (Unaudited)Non-GAAP Measures:For the Three Months EndedFor the Six Months EndedJune 30,June 30,($ in 000's)2012201120122011Reported Revenue$4,403.5

$2,568.8$7,505.7

$4,539.4Less: Forward Order effect-

(451.7)-

(1,079.4)Normalized Revenue$4,403.5

$2,117.1$7,505.7

$3,460.0Reported Operating Income / (Loss)($523.8)($411.7)($1,825.8)($1,242.5)Less: Forward Order effect-

(276.6)-

(619.7)Plus: Stock based compensation197.7

186.7397.4

336.4Plus: Depreciation and amortization503.3

201.9870.4

413.6Adjusted Operating Income / (Loss)$177.2

($299.7)($558.0)

($1,112.2) 

To supplement the Company's presentation of revenue and operating income and (loss) measured in accordance with GAAP, we use a non-GAAP measure of revenue, herein defined as Normalized Revenue, and a non-GAAP measure of operating income, herein defined as Adjusted Operating Income (in the event this amount is negative it is herein defined as Adjusted Operating Loss).  Reconciliation of GAAP revenue to Normalized Revenue and operating income to Adjusted Operating Income or Loss for the second quarters of 2012 and 2011 are shown above.  How we define these non-GAAP measures herein may not be consistent with how we have defined this non-GAAP measure historicall
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SOURCE Patient Safety Technologies, Inc.
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