Edwards Group Limited Provides Guidance for the Second Quarter 2012
Edwards Group Limited (Nasdaq: EVAC) is providing the following outlook for the second quarter of 2012:
Revenue is expected to be £154 million to £160 million.
Net Income is expected to be £9.5 million to £10.5 million, or 8 pence to 9 pence per diluted share.
Adjusted net income is expected to be £14.5 million to £15.5 million, or 12.5 pence to 13.5 pence per diluted share.
The Company's anticipated Adjusted net income for the second quarter of 2012 excludes restructuring and transaction costs, currency translation gain/(loss) on external and intra-group debt, purchase price accounting ("PPA") amortization, tax shield on adjustments, and non-cash compensation expense. Details of all line items to reconcile the non–GAAP measure, Adjusted net income, to the most comparable GAAP measure, net income, for the three months ended June 30, 2012 are not reasonably available at this time. The calculation of currency translation gain/(loss) on external and intra–group debt is calculated using the closing mid-point spot rate of £1.00 to US$1.5978 at 4:00 p.m. (London time) on March 31, 2012. For the purpose of calculating net income and Adjusted net income per diluted share in the second quarter, the Company assumes approximately 114 million weighted average shares outstanding.
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