Our ability to develop enhanced health management programs through the integrated use of innovative diagnostic and monitoring devices and to recognize the expected benefits of this strategy; the impact of healthcare reform legislation, as well as future reform initiatives; the content and timing of regulatory decisions and actions, including the results and consequences of FDA inspections, as well as the impact of changes in reimbursement policy and budgetary constraints, both in the United States and abroad; the effect of pending and future legal proceedings on our financial performance and the risks and uncertainties described in our periodic reports filed with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2011, as well as in our Quarterly Reports on Form 10-Q. Our company undertakes no obligation to update forward-looking statements.
Additionally, please note that during this call we may discuss non-GAAP financial measures. For each non-GAAP financial measure discussed, a presentation of the most directly comparable GAAP financial measure and a reconciliation of the differences between the non-GAAP financial measure discussed and the most directly comparable GAAP financial measure is available on the company’s website at www.alere.com.
With that, let me turn the call over to Alere Chairman and CEO, Ron Zwanziger. Ron?
Ron ZwanzigerThanks, Doug, and good morning everyone. Our second quarter results were impacted by the regulatory issue with our Triage product. Despite this setback, as well as the effect of ongoing weakness in Europe, all our major commercial units around the world including Health Management performed well and came close to compensating for the regulatory matter in Europe.Our results were also negatively impacted by an unusually high effective tax rate related to a combination of higher profits in the U.S. and lower profits in Europe.As the issues in San Diego have been covered several times over the past few months in public presentations and via 8-K filings, I’ll limit my prepared comments today to a general update, with Dave providing further details later in the call.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV