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LeMaitre Vascular Reports Q1 2008 Revenue of $11.8 Million, a 20% Increase
Date:4/30/2008

ny and other third parties, which are the properties of their respective owners.

For more information about the Company, please visit http://www.lemaitre.com.

Use of Non-GAAP Financial Measures

LeMaitre Vascular management believes that in order to properly understand the Company's short-term and long-term financial trends, investors may wish to consider the impact of certain non-cash or non-recurring items, when used as a supplement to financial performance measures in accordance with GAAP. These items result from facts and circumstances that vary in frequency and/or impact on continuing operations. In addition, management uses results of operations before such items to evaluate the operational performance of the Company and as a basis for strategic planning. Investors should consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures in accordance with GAAP. In addition to the description provided below, reconciliation of GAAP to non-GAAP results is provided in the financial statement tables included in this press release.

In this press release, the Company has reported a non-GAAP measure which excludes certain non-recurring expenses related to restructuring and to impairment. During 2007, the Company elected to terminate its exclusive distributor in Italy prior to the scheduled expiration of the related distribution contract and entered into a separation agreement with this distributor. The Company incurred charges of $254,000 in connection with this transaction in Q1 2008. Also, in Q1 2008, shortly following its acquisition of Biomateriali, the Company became aware of facts leading it to conclude that certain acquired inventory and intangibles should be written down, the inventory by $105,000 in Q4 2007 and the intangibles by $435,000 in Q1 2008. In Q1 2008 the Company undertook a reduction in force of 32 employees and incurred charges
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SOURCE LeMaitre Vascular, Inc.
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