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CardioNet, Inc. Reports Fourth Quarter And Full Year 2010 Financial Results

In accordance with Regulation G of the Securities and Exchange Commission, the table set forth below reconciles certain financial measures used in this press release that were not calculated in accordance with generally accepted accounting principles, or GAAP, with the most directly comparable financial measure calculated in accordance with GAAP.


Twelve Months Ended



December 31,


December 31, 2009
Operating loss – GAAP $ (19,692) $ (20,649)
Nonrecurring charges (a)   7,104   14,614

Adjusted operating loss
$ (12,588) $ (6,035)
Net loss – GAAP $ (19,860) $ (20,476)
Nonrecurring charges (net of income taxes of $0 and $0, respectively) (a)   7,104   14,614
Adjusted net loss $ (12,756) $ (5,862)

Loss per diluted share – GAAP $ (0.82) $ (0.86)
Nonrecurring charges per share (a)   0.29   0.61
Adjusted loss per diluted share $ (0.53) $ (0.25)
(a)   For the twelve months ended 2010, we incurred $4.2 million of severance and other exit cost related to the restructuring of our sales and service organizations and management changes, $1.3 million for the forfeiture and acceleration of certain options, as well as $1.6 million of other nonrecurring charges largely related to our class action and Biotel lawsuits. For the twelve months ended 2009, we incurred $9.9 million for the forfeiture and acceleration of certain stock options, $2.6 million related to changes in executive management, $1.1 million of costs in connection with the terminated 2009 definitive merger agreement to acquire Biotel, Inc., and $1.0 million of integration, restructuring and other nonrecurring charges.

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