UPDATE 1-LeMaitre to stop sale of aortic stent grafts
* Expects to take $1.1 mln charge in Q2
* To shut California plant, to take $0.4 mln charge
* Shares down 4 percent (Follows alerts)
May 20 (Reuters) - LeMaitre Vascular Inc said it would stop the sale of its aortic stent grafts from July and shut a plant in California, sending its shares down 4 percent after the bell.
The company, which provides peripheral vascular devices and implants, said it would stop manufacturing its TAArget/UniFit aortic stent grafts and expects to take $1.1 million non-cash charges in the second quarter.
It would continue its European distribution of the Endologix stent graft.
LeMaitre Vascular expects to close the plant during the second and third quarters and will take a charge of $0.4 million in the two quarters.
The company now sees sales of $61 million in 2011, compared with the earlier projection of $62 million.
LeMaitre Vascular's shares were down 4 percent at $6.87 in after-market trade on Friday. They closed at $7.18 on Nasdaq. (Reporting by Shravya Jain in Bangalore; Editing by Don Sebastian)
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