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
|SOURCE LeMaitre Vascular, Inc.|
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