8 million of the X-STOP(R) IPD(R) products from our acquisition of SFMT in January 2007.
39 Weighted-average shares outstanding: Basic 45,426 45,426 44,181 Diluted 45,426 47,582 46,091 (1) In-process research and development (IPR&D) charges related to SFMT acquisition.
The proceeds, together with revolver borrowings, were used to retire the $425 million senior secured term loan incurred to complete the acquisition of SFMT.
The full-year 2007 target range for earnings per diluted share, which includes the impact of all of the charges associated with the SFMT and Disc-O- Tech transactions except the write-off of IPR&D, is expected to be between $0.
The company estimates that the one-time pre-tax charge for IPR&D associated with the acquisitions of SFMT and the spinal assets of Disc-O-Tech will be approximately $56 million.
In accordance with SFAS 141, Business Combinations, the guidance also assumes a purchase price adjustment of approximately $8 million relating to a fair value write-up of the X-STOP(R) system inventory on hand at the time the SFMT
transaction closed in January 2007.
For additional information about the SFMT
or the X STOP, visit the Company's website at http://www.
The investment will allow SFMT to complete the FDA approval process and fund the commercial introduction of its first product, the X STOP(R) Interspinous Process Distraction System ("X STOP") in the U.
SFMT is completing two-year follow up for patients enrolled in a pivotal FDA trial and expects to file its PMA (Pre Market Approval) this summer.
SFMT, whose principal focus is the emerging Eurasian markets, has acquired a partnership interest in Hermes Europe Railtel, B.
SFMT will become the managing partner of the Hermes project.
They include SFMT Montana Telecom in Budapest, the largest VSAT network operator in Central Europe; Moscow-based Sovintel, the leading independent, international carrier in Russia, and Sovam Teleport, the second largest packet switching company in that country.